WEYERHAEUSER CO
SymbolWY

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Weyerhaeuser Announces Results as of the Early Tender Date and Amendment to Its Cash Tender Offer

2009-11-25 08:30 ET - News Release


Company Website: http://www.weyerhaeuser.com
FEDERAL WAY, Wash. -- (Business Wire)

Weyerhaeuser Company (NYSE:WY) today announced that as of Nov. 24, 2009 (the “Early Tender Date”), $318,372,000 principal amount of its outstanding 6.750% Notes due March 15, 2012 (the “Securities”) had been tendered in its previously announced cash tender offer (the “Offer”) and that it has amended the terms of the Offer in the manner described in this release. Except as otherwise provided in this release, the terms and conditions of the Offer are set forth in the Company’s Offer to Purchase dated Nov. 10, 2009 and the accompanying Letter of Transmittal and remain unchanged.

In the Offer, Weyerhaeuser (the “Company”) is offering to purchase for cash up to $500 million principal amount (the “Tender Cap”) of the Securities from each registered holder of Securities (a “Holder”). As amended, the Company is now offering to pay for each $1,000 principal amount of Securities validly tendered at any time prior to the Expiration Date (as defined below) and accepted for purchase a fixed price of $1,062.50. The Offer originally contemplated that the total consideration was to be determined pursuant to a modified “Dutch Auction” procedure, with the purchase price to be set at an amount not less than $1,030 nor greater than $1,062.50 per $1,000 principal amount, and that Securities tendered in the Offer after the Early Tender Date would not be eligible to receive the $30.00 Early Tender Premium. As amended, the Company will pay the same consideration ($1,062.50) for any Securities purchased in the Offer, regardless of whether they were tendered prior to or after the Early Tender Date. The Withdrawal Deadline (as defined in the Offer to Purchase) has not been extended. The amended terms of the Offer are summarized in the table below.

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