Koch Industries, Inc. announced the successful completion of its $21 billion acquisition of Georgia-Pacific Corp. 

The deal was finalized through the merger of Koch's wholly owned subsidiary, Koch Forest Products, Inc., with and into Georgia-Pacific. Georgia-Pacific will retain its name and operate from its Atlanta headquarters as a privately held, indirect wholly owned subsidiary of Koch Industries. 

As announced December 22 by Koch, Joseph W. Moeller becomes Georgia-Pacific's President and Chief Executive Officer, and Bill Caffey begins his role as Executive Vice President, operations excellence and compliance. A.D. "Pete" Correll, formerly Chairman and Chief Executive Officer, will continue with Georgia-Pacific as chairman of the board, to assist in the transition. 

Koch acquired Georgia-Pacific's common stock through a cash tender offer that closed December 19 and obtained necessary financing, with Citibank as the lead financial institution. 

As a result of the merger, any outstanding shares of Georgia-Pacific not validly tendered in the tender offer have been cancelled and converted into the right to receive $48 per share in cash, without interest, (the same per share consideration paid in the tender offer). Mellon Investor Services, the depositary for the transaction, will mail to non-tendering shareholders materials to be used to surrender share certificates for the merger consideration. As a result of the merger, Georgia-Pacific shares will be delisted from the New York Stock Exchange and cease trading at the close of business December 23.