Temple-Inland rebuffs International Paper's bid

22 Jul 2011 − 

Temple-Inland's Board of Directors unanimously rejected International Paper's (IP) unsolicited tender off to acquire all of the company's outstanding common shares. The Board of Directors advised the shareholders not to tender their shares to IP's offer of $30.60 per share as it grossly undervalued Temple-Inland and it's future prospects.
The company stated that it was the largest remaining independent, publicly-held industry participant whose acquisition would fundamentally transform the industry.

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