International Paper Proposes Buy Out of Temple-Inland

International Paper IP announced after the closing bell today that it has proposed to acquire all of the outstanding shares of Temple-Inland TIN for $30.60 per share in cash. Under the terms of the proposal, the offer represents a 44% premium. International Paper's offer, which is backed by committed financing from UBS Investment Bank, is contingent on appropriate documentation and regulatory approval, which International Paper believes can be obtained. Source: PR Newswire