Weyerhaeuser’s $2.2 Billion Sale of its Cellulose Fibers Pulp Mills to International Paper

On May 2, 2016, Weyerhaeuser Company announced an agreement to sell its Cellulose Fibers pulp mills to International Paper for $2.2 billion in cash. Cravath is representing Weyerhaeuser in connection with this transaction. Weyerhaeuser expects to use a substantial portion of the estimated $1.6 billion after‑tax proceeds for repayment of term loans issued in conjunction with the company’s previously announced $2.5 billion share repurchase program.

The Cravath team is being led by partners Richard Hall and Erik R. Tavzel and includes associates Holden K. Sumner, Douglas M. Giannantonio and Miling Y. Harrington on M&A matters; partner Eric W. Hilfers and associate Matthew Cantor on executive compensation and benefits matters; partner Julie A. North, senior attorney Lillian S. Grossbard and associates Daniella L. Esses and Rachel J. Lamorte on antitrust matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; partner Matthew Morreale on environmental matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Brian B. Kennedy also worked on executive compensation and benefits matters.