What average price per share was used to determine the number of shares I received?
A. The average price per share of IP common stock used to determine the number of shares received in exchange for each share of Champion common stock was computed pursuant to the terms of the merger agreement on the basis of the average volume weighted price for IP stock on 15 randomly selected trading days during the 30 trading day period from May 3, 2000 through June 14, 2000. The average volume weighted price used in that exchange ratio calculation was $35.3441. Therefore, .7073 shares of IP common stock represented the $25 of value agreed upon by Champion and IP when the transaction was negotiated.
