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Weyerhaeuser Holdings Company Completes Purchase of All Outstanding Exchangeable Shares of Weyerhaeuser Company Limited
Apr 29, 2008
VANCOUVER, British Columbia, April 29, 2008 — Weyerhaeuser Company Limited (TSX: WYL), a subsidiary of Weyerhaeuser Holdings Limited and an indirect subsidiary of Weyerhaeuser Company (NYSE: WY), announced today that Weyerhaeuser Holdings Limited has purchased all of the outstanding exchangeable shares of Weyerhaeuser Company Limited for purchase consideration of one common share of Weyerhaeuser Company for each exchangeable share.
From and after April 29, 2008, former holders of exchangeable shares cease to have any rights as a holder of exchangeable shares other than the right to receive one common share of Weyerhaeuser Company for each exchangeable share previously held. Former holders of exchangeable shares who have submitted a properly completed and duly executed Purchase and Transmittal Form to CIBC Mellon Trust Company together with the certificate(s) for the exchangeable shares and such other documentation as CIBC Mellon Trust Company might require will receive certificate(s) representing common shares of Weyerhaeuser Company in accordance with their instructions in the Purchase and Transmittal Form.
As a result of this transaction, Weyerhaeuser Company Limited is now indirectly wholly-owned by Weyerhaeuser Company. Accordingly, the exchangeable shares will be delisted from the Toronto Stock Exchange and Weyerhaeuser Company Limited will be taking steps to give notice and obtain appropriate orders to permit it to cease to be a reporting issuer under Canadian securities legislation.
Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were $16.3 billion. It has offices or operations in 13 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com.
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