Weyerhaeuser announces number of validly tendered shares, proration factor in Domtar exchange

By Lisa Kerner

Charlotte, N.C., March 12 - Weyerhaeuser Co. said a total of 114,204,244 common shares of its stock and exchangeable shares of Weyerhaeuser Co. Ltd. were validly tendered in exchange for 284,067,852 shares of Domtar Corp. common stock in an offer that ended March 6.

The amount tendered includes 197,699 shares tendered by odd lot shareholders not subject to proration, according to a company news release.

Weyerhaeuser was obligated to accept a maximum of 25,490,196 Weyerhaeuser shares for exchange. The company said 22.1851% of the Weyerhaeuser common shares and exchangeable shares validly tendered, not including odd lot shareholders, will be exchanged for Domtar Corp. shares on a pro rata basis.

Under the exchange offer, 11.1442 shares of Domtar Corp. common stock will be exchanged for each Weyerhaeuser common share as part of the previously announced transaction combining Weyerhaeuser's fine paper business and related assets with Domtar Inc.

The new company operates as Domtar Corp.

Under the terms of the transaction, Weyerhaeuser received $1.35 billion in cash.

Weyerhaeuser is a forest products company based in Federal Way, Wash.

Domtar Corp. is based in Montreal, and its operations center is in Fort Mill, S.C.

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