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Title: |
Agreement and Plan of Merger |
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Entities: |
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Date: |
2003 |
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Size: |
Preview shows 39KB of 404KB total |
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Price: |
$86 |
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ID: |
#367396 |
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Start of Preview |
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AGREEMENT AND PLAN OF MERGER
DATED AS OF MARCH 25, 2003
AMONG
RIVERWOOD HOLDING, INC.,
RIVERWOOD ACQUISITION SUB LLC
AND
GRAPHIC PACKAGING INTERNATIONAL CORPORATION
Table of Contents
| Page | ||||||||||||
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ARTICLE I | ||||||||||||
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THE MERGER; CERTAIN RELATED MATTERS | ||||||||||||
| Section 1.1 |
The Merger |
2 | ||||||||||
| Section 1.2 |
Closing |
2 | ||||||||||
| Section 1.3 |
Effective Time |
3 | ||||||||||
| Section 1.4 |
Effects of the Merger |
3 | ||||||||||
| Section 1.5 |
Certificate of Incorporation of Riverwood; Certificate of Formation |
3 | ||||||||||
|
of Merger Sub |
||||||||||||
| Section 1.6 |
Bylaws of Riverwood; LLC Agreement of Merger Sub |
3 | ||||||||||
| Section 1.7 |
Officers and Directors of Riverwood; Governance of Merger Sub |
3 | ||||||||||
| Section 1.8 |
Effect on Capital Stock |
4 | ||||||||||
| Section 1.9 |
Company Stock Options and Other Equity-Based Awards |
4 | ||||||||||
| Section 1.10 |
Certain Adjustments |
6 | ||||||||||
| Section 1.11 |
Associated Rights |
6 | ||||||||||
|
ARTICLE II | ||||||||||||
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EXCHANGE OF CERTIFICATES | ||||||||||||
| Section 2.1 |
Exchange Fund |
6 | ||||||||||
| Section 2.2 |
Exchange Procedures |
6 | ||||||||||
| Section 2.3 |
Distributions with Respect to Unexchanged Shares; Voting |
7 | ||||||||||
| Section 2.4 |
No Further Ownership Rights in Company Common Stock |
8 | ||||||||||
| Section 2.5 |
No Fractional Shares of Riverwood Common Stock |
8 | ||||||||||
| Section 2.6 |
Termination of Exchange Fund |
9 | ||||||||||
| Section 2.7 |
No Liability |
9 | ||||||||||
| Section 2.8 |
Investment of the Exchange Fund |
9 | ||||||||||
| Section 2.9 |
Lost Certificates |
9 | ||||||||||
| Section 2.10 |
Withholding Rights |
10 | ||||||||||
| Section 2.11 |
Further Assurances |
10 | ||||||||||
| Section 2.12 |
Stock Transfer Books |
10 | ||||||||||
| Section 2.13 |
Affiliates |
10 | ||||||||||
|
ARTICLE III | ||||||||||||
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REPRESENTATIONS AND WARRANTIES | ||||||||||||
| Section 3.1 |
Representations and Warranties of Riverwood |
11 | ||||||||||
| Section 3.2 |
Representations and Warranties of the Company |
31 | ||||||||||
| Section 3.3 |
Representations and Warranties of Riverwood and Merger Sub |
50 | ||||||||||
i
Table of Contents
(continued)
| Page | ||||||||||||
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ARTICLE IV | ||||||||||||
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COVENANTS RELATING TO CONDUCT OF BUSINESS | ||||||||||||
| Section 4.1 |
Covenants of Riverwood |
51 | ||||||||||
| Section 4.2 |
Covenants of the Company |
54 | ||||||||||
| Section 4.3 |
Governmental Filings |
57 | ||||||||||
| Section 4.4 |
Control of Other Partys Business |
57 | ||||||||||
| Section 4.5 |
Actions Regarding Benefit Plans |
57 | ||||||||||
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ARTICLE V | ||||||||||||
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ADDITIONAL AGREEMENTS | ||||||||||||
| Section 5.1 |
Preparation of Proxy Statement; Stockholders Approval |
57 | ||||||||||
| Section 5.2 |
Access to Information/Employees |
59 | ||||||||||
| Section 5.3 |
Reasonable Best Efforts |
61 | ||||||||||
| Section 5.4 |
Acquisition Proposals |
62 | ||||||||||
| Section 5.5 |
Employee Benefits Matters |
64 | ||||||||||
| Section 5.6 |
Fees and Expenses |
65 | ||||||||||
| Section 5.7 |
Directors and Officers Indemnification and Insurance |
65 | ||||||||||
| Section 5.8 |
Public Announcements |
66 | ||||||||||
| Section 5.9 |
Accountants Letters |
67 | ||||||||||
| Section 5.10 |
Listing of Shares of Riverwood Common Stock |
67 | ||||||||||
| Section 5.11 |
Company Affiliates; Restrictive Legend |
67 | ||||||||||
| Section 5.12 |
Section 16 Matters |
68 | ||||||||||
| Section 5.13 |
Tax Treatment |
68 | ||||||||||
| Section 5.14 |
Changes to Riverwoods Capital Structure |
68 | ||||||||||
| Section 5.15 |
Financing |
69 | ||||||||||
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ARTICLE VI | ||||||||||||
|
CONDITIONS PRECEDENT | ||||||||||||
| Section 6.1 |
Conditions to Each Partys Obligation to Effect the Merger |
69 | ||||||||||
| Section 6.2 |
Additional Conditions to Obligations of Riverwood |
70 | ||||||||||
| Section 6.3 |
Additional Conditions to Obligations of the Company |
71 | ||||||||||
|
ARTICLE VII | ||||||||||||
|
TERMINATION AND AMENDMENT | ||||||||||||
| Section 7.1 |
General |
72 | ||||||||||
| Section 7.2 |
Obligations in Event of Termination |
74 | ||||||||||
ii
Table of Contents
(continued)
| Page | ||||||||||||
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| Section 7.3 |
Amendment |
76 | ||||||||||
| Section 7.4 |
Extension; Waiver |
76 | ||||||||||
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ARTICLE VIII | ||||||||||||
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GENERAL PROVISIONS | ||||||||||||
| Section 8.1 |
Non-Survival of Representations, Warranties and Agreements |
76 | ||||||||||
| Section 8.2 |
Notices |
77 | ||||||||||
| Section 8.3 |
Interpretation |
78 | ||||||||||
| Section 8.4 |
Counterparts |
78 | ||||||||||
| Section 8.5 |
Entire Agreement; No Third Party Beneficiaries |
78 | ||||||||||
| Section 8.6 |
Governing Law |
78 | ||||||||||
| Section 8.7 |
Severability |
78 | ||||||||||
| Section 8.8 |
Assignment |
79 | ||||||||||
| Section 8.9 |
Submission to Jurisdiction; Waivers |
79 | ||||||||||
| Section 8.10 |
Enforcement |
79 | ||||||||||
| Section 8.11 |
Definitions |
79 | ||||||||||
iii
Table of Contents
Page
LIST OF EXHIBITS
| Exhibit | Title | |
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| 1(a) | Form of Riverwood Shareholders Written Consent | |
| 1(b) | Form of Voting Agreement | |
| 1(c) | Executives Executing New Employment Agreements | |
| 1.5 | Form of Restated Certificate of Incorporation of Riverwood | |
| 1.6 | Form of Bylaws of Riverwood | |
| 1.7(a) | Directors of Riverwood | |
| 1.7(b) | Officers of Riverwood | |
| 5.11 | Form of Affiliate Agreement |
iv
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