International Paper Proposes to Acquire Temple-Inland for $30.60 Per Share in Cash

International Paper IP today announced 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 to Temple-Inland's price as of noon EDT, June 6th, 2011 ($21.21). 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.