DOJ Orders Divestitures In $4B International Paper Merger

Law360, New York (February 10, 2012, 3:16 PM EST) -- The International Paper Co. and Temple-Inland Inc. will have to divest three containerboard mills before they can move forward with a planned $4.3 billion merger, U.S. antitrust regulators said Friday.

Under the terms of a proposed final judgment filed in Washington federal court, the U.S. Department of Justice said that in order to gain regulatory approval, Temple-Inland agreed to sell off its New Johnsonville Mill in Tennessee and the Ontario Mill in California.

The deal also called for International Paper to sell either its Port Hueneme...
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