International Paper completes acquisition of Temple-Inland
LUFKIN — International Paper Company announced on Monday that it has completed its acquisition of Temple-Inland Inc.
The acquisition was completed through the merger of its wholly owned subsidiary Metal Acquisition Inc. Under the terms of the transaction, each issued and outstanding share of Temple-Inland common stock has been converted into the right to receive $32 in cash, without interest, and less any applicable withholding taxes, according to a press release.
Including the assumption of approximately $700 million in Temple-Inland net debt, the total transaction value is approximately $4.5 billion, the press release stated.
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