Temple-Inland (TIN) Rejects $30.60 Per Share Bid by International Paper

Temple-Inland (TIN) recently reported that it received an unsolicited proposal from International Paper Company to acquire the Company for $30.60 per Temple-Inland share in cash. Temple-Inland’s Board of Directors, after careful consideration with its independent financial and      legal advisors, voted unanimously to reject International Paper’s proposal after the Board determined unanimously that the proposal grossly undervalues Temple-Inland and is not in the best interest of Temple-Inland’s stockholders. Based on the Company’s internal estimates, as well as Wall Street consensus estimates, Temple-Inland’s Board believes the Company’s accelerating growth of earnings and Return On Investment will result in superior value to that offered by International Paper in a sale transaction.

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Etichete: temple inland, international paper, tin, wall street, nyse