ATLANTA/WICHITA, Kan. - Georgia-Pacific Corp., Atlanta, and Koch Industries, Inc., Wichita, Kansas, have reached a definitive agreement for Koch Forest Products, Inc., a wholly owned Koch subsidiary, to make a $48 per share cash tender offer for all shares of Georgia-Pacific. The transaction has been unanimously approved by the boards of directors of Georgia-Pacific and Koch. The acquisition of Georgia-Pacific Corp. would make Koch the largest privately held company in the United States.

Koch has confirmed that Georgia-Pacific will be operated as a privately held, wholly owned subsidiary of Koch Industries. Georgia-Pacific will continue to do business worldwide under the Georgia-Pacific name and continue to operate its businesses from its Atlanta headquarters as an independently managed company.

Georgia-Pacific Resins, Inc., Chemical Division of Georgia-Pacific Corp., manufactures solvent-based, waterborne and crosslinking phenolic resins for industrial/specialty coatings and air-dry varnish. Tall oil-based products are also offered.