Great Northern Nekoosa Files Petition: Great Northern...

Great Northern Nekoosa Files Petition: Great Northern Nekoosa said it had filed a petition with the Interstate Commerce Commission challenging an exemption granted last week to Georgia-Pacific so that it could take over Great Northern’s railroads as part of a buyout. A Great Northern spokesman said Georgia-Pacific’s exemption had been procedurally defective and contained false or misleading information. Earlier, Great Northern rejected Atlanta-based Georgia Pacific’s unsolicited $58-a-share offer, calling it too low, possibly illegal and holding the potential for disastrous debt. Georgia-Pacific, maintaining that the offer is fair and sound, said it will pursue the transaction.