-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Nxl0Sd3TwmBZcV++zpAsR6nEsupF3SJD8PJktbKgZPAmRDT8MSUPSLDoiCdsx4tp QK/Y1wcIe9mCpo/HErGrsw== 0001005477-00-001497.txt : 20000218 0001005477-00-001497.hdr.sgml : 20000218 ACCESSION NUMBER: 0001005477-00-001497 CONFORMED SUBMISSION TYPE: SC TO-C PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000217 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SHOREWOOD PACKAGING CORP CENTRAL INDEX KEY: 0000800266 STANDARD INDUSTRIAL CLASSIFICATION: CONVERTED PAPER & PAPERBOARD PRODS (NO CONTAINERS/BOXES) [2670] IRS NUMBER: 112742734 STATE OF INCORPORATION: DE FISCAL YEAR END: 0427 FILING VALUES: FORM TYPE: SC TO-C SEC ACT: SEC FILE NUMBER: 005-38074 FILM NUMBER: 548782 BUSINESS ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10172 BUSINESS PHONE: 2123711500 MAIL ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10172 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL PAPER CO /NEW/ CENTRAL INDEX KEY: 0000051434 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] IRS NUMBER: 130872805 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-C BUSINESS ADDRESS: STREET 1: TWO MANHATTANVILLE RD CITY: PURCHASE STATE: NY ZIP: 10577 BUSINESS PHONE: 9143971500 MAIL ADDRESS: STREET 1: TWO MANHATTANVILLE ROAD CITY: PURCHASE STATE: NY ZIP: 10577 FORMER COMPANY: FORMER CONFORMED NAME: INTERNATIONAL PAPER & POWER CORP DATE OF NAME CHANGE: 19710527 SC TO-C 1 SCHDULE TO-C SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------- SCHEDULE TO (Rule 14D-100) Tender Offer Statement Under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934 ----------------------------------- SHOREWOOD PACKAGING CORPORATION (Name of Subject Company (Issuer)) INTERNATIONAL PAPER-37, INC. INTERNATIONAL PAPER COMPANY (Names of Filing Persons (Offerors)) Common Stock, $0.01 Par Value Per Share (Including Associated Rights) (Title of Class of Securities) 825229107 (CUSIP Number of Class of Securities) James W. Guedry, Esq. Vice President and Secretary International Paper Company Two Manhattanville Road Purchase, New York 10577 (914) 397-1500 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on behalf of Filing Persons) COPY TO: Jeffrey J. Rosen, Esq. O'Melveny & Myers LLP 153 East 53 Street New York, New York 10022-4611 (212) 326-2000 |X| Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer. Check the appropriate boxes below to designate any transactions to which the statement relates: |X| third-party tender offer subject to Rule 14d-1. |_| issuer tender offer subject to Rule 13e-4. |_| going-private transaction subject to Rule 13e-3. |_| amendment to Schedule 13D under Rule 13d-2. Check the following box if the filing is a final amendment reporting the results of the tender offer: |_| INTERNATIONAL [LOGO] PAPER Increasing Integration in Consumer Packaging February 17, 2000 Slide 2 International Paper is a Leader in Bleached Board Consumer Packaging Focused on Three Segments - -------------------------------------------------------------------------------- ------------------ Consumer Packaging Bleached Board 2.0 million tons ------------------ | | | | ----------------------------- | ---------------------------- | | | | | | ---------------- ---------------- ---------------- Retail Beverage Food Service 1.0 million tons 0.5 million tons 0.5 million tons ---------------- ---------------- ---------------- INTERNATIONAL [LOGO] PAPER Slide 3 International Paper is Committed to Getting Closer to Our Customers - -------------------------------------------------------------------------------- ------------------ Consumer Packaging Converting ------------------ | | | | ------------------------ | --------------------------- | | | | | | ------------- --------- ------------------------- Retail Beverage Food Service End-Uses End-Uses End-Uses ------------- --------- ------------------------- Entertainment Dairy Quick Service Restaurants Cosmetics Juice Distribution Food Specialty Home Meal Replacement Personal Care Specialty Tobacco ------------------------------------------------------------------- Shorewood Gives International Paper a Leadership Position in Retail ------------------------------------------------------------------- INTERNATIONAL [LOGO] PAPER Slide 4 Shorewood is a Leading Producer of Premium Packaging for Retail End-Use Categories - -------------------------------------------------------------------------------- [The following table was depicted as a pie chart in the printed materials.] Shorewood LTM Sales: US$600 million Other Consumer Product 0.17% Cosmetics & Toiletries 0.15% Home Entertainment 0.35% Tobacco 0.33% INTERNATIONAL [LOGO] PAPER Slide 5 Shorewood is the Recognized Leader in Attractive and Growing Categories - -------------------------------------------------------------------------------- ------------------------------ ------------------------------- Home Entertainment Cosmetics And Toiletries ------------------------------ ------------------------------- [GRAPHIC OMITTED] [GRAPHIC OMITTED] ------------------------------ ------------------------------- Tobacco Other Consumer Products ------------------------------ ------------------------------- [GRAPHIC OMITTED] [GRAPHIC OMITTED] INTERNATIONAL [LOGO] PAPER Slide 6 IP Will Become a Leading Producer of Premier Folding Cartons in the Retail Segment - -------------------------------------------------------------------------------- [The following table was depicted as a bar chart in the printed materials.] Estimated Folding Carton Sales (Dollars in Billions) - -------------------------------------------------------------------------------- ACX $ 1.1 IP / Shorewood $ 1.0 Smurfit Stone $ 0.7 Rock-Tenn $ 0.6 Westvaco $ 0.5 Riverwood $ 0.5 Mead $ 0.4 Caraustar $ 0.3 Field Container $ 0.3 Gulf States $ 0.2 Malnove $ 0.2 Ivy Hill $ 0.2 - -------------------------------------------------------------------------------- INTERNATIONAL [LOGO] PAPER Slide 7 Shorewood Summary Financial Information - -------------------------------------------------------------------------------- (Dollars in Millions) - -------------------------------------------------------------------------------- LTM ended Oct 1999 - -------------------------------------------------------------------------------- Sales $600 EBITDA (incl. synergies) $114 EBIT (incl. synergies) $ 87 Annual Synergies $ 25 Equity Purchase Price $600 Net Debt Assumed $275 Total Purchase Price $875 - -------------------------------------------------------------------------------- INTERNATIONAL [LOGO] PAPER Slide 8 IP's Offer for Shorewood - -------------------------------------------------------------------------------- o $21 per share in cash o Cash tender offer o Approved by both Boards o Financed from existing facilities o Subject only to regulatory review INTERNATIONAL [LOGO] PAPER THIS ANNOUNCEMENT IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER TO SELL SHARES OF THE COMPANY. AT THE TIME THE OFFER IS COMMENCED, INTERNATIONAL PAPER WILL FILE A TENDER OFFER STATEMENT WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION AND SHOREWOOD PACKAGING WILL FILE A SOLICITATION/RECOMMENDATION STATEMENT WITH RESPECT TO THE OFFER. THE TENDER OFFER STATEMENT (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND OTHER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT WILL CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT TO THE OFFER. THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER OFFER DOCUMENTS, AS WELL AS THE SOLICITATION/RECOMMENDATION STATEMENT, WILL BE MADE AVAILABLE TO ALL STOCK HOLDERS OF SHOREWOOD PACKAGING, AT NO EXPENSE TO THEM. THE TENDER OFFER STATEMENT (INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND ALL OTHER OFFER DOCUMENTS FILED WITH THE COMMISSION) AND THE SOLICI TATION/RECOMMENDATION STATEMENT WILL ALSO BE AVAILABLE AT NO CHARGE AT THE COMMISSION'S WEBSITE AT WWW.SEC.GOV. -----END PRIVACY-ENHANCED MESSAGE-----