International Paper Sells Mills For $470M In DOJ Deal

Law360, New York (June 1, 2012, 7:14 PM EDT) -- International Paper Co. will sell three mills — two in California and one in Tennessee — for $470 million in order to alleviate antitrust concerns over its proposed $4.3 billion merger with rival Temple-Inland Inc., the company announced Friday.

In a deal tentatively blessed by the U.S. Department of Justice, the paper products giant company is selling off the properties, after a "robust auction," to Hood Companies Inc. and a joint venture of The Kraft Group LLC and Schwarz Partners LP, it said. Terms of the...
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