Debevoise Reps International Paper In $4.3B Temple Buy

Law360, New York (September 6, 2011, 11:54 AM EDT) -- International Paper said Tuesday that corrugated packaging company Temple-Inland Inc. accepted its sweetened, $4.3 billion buyout bid, paving the way for a deal that could allow the paper and pulp giant to ring up $300 million in cost savings.

The purchase price, approved by the boards of both companies, values the target at $32 per share and includes the assumption of $600 million in Temple-Inland's debt. It appraises Temple-Inland's shares more than 50 percent above their price in early June, when news of the papery pas...
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