RICHMOND, Va., June 9 /PRNewswire/ -- James River Corporation (NYSE: JR)
announced today that the U.S. Department of Justice has issued a request for
additional information in connection with its review of the proposed merger
between James River and Fort Howard Corporation. The signing of a definitive
merger agreement between the two companies was previously announced on May 5,
1997. The second request has the effect of extending the waiting period under
the Hart-Scott-Rodino Act until 20 calendar days after both parties comply
with the request.
James River and Fort Howard have each begun collecting the required
information to comply with the second request. The companies intend to reply
to the government's request promptly. "This action by the Department of
Justice is not uncommon in mergers of this type," noted Miles L. Marsh,
Chairman and Chief Executive Officer of James River. The companies believe
the merger is pro-competitive.
James River Corporation, headquartered in Richmond, Va., is a leading
marketer and manufacturer of paper-based consumer products, packaging, and
business, printing and converting papers. James River markets such leading
brands as Quilted Northern bathroom tissue, Brawny paper towels, Vanity Fair
napkins, and Dixie cups and plates in North America, and Lotus bathroom
tissue, towels, and facial tissue in Europe. The company also markets Quilt-
Rap sandwich wrap, Qwik Wave microwave packaging, and Eureka! and Word Pro
copy papers. James River's current annual sales rate is approximately $5.7
billion.
Today's news release, along with past releases from James River, is
available by fax, at no charge, by calling 800-758-5804, ext. 457350. You may
access James River's corporate-wide site at Internet address
http://www.jamesrivercorp.com.
SOURCE James River Corporation
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CONTACT: Celeste Gunter, Financial, 804-649-4307, or Richard B. Elder, Media, 804-343-4785, both of James River
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