Temple-Inland Stockholders Overwhelmingly Approve Merger with IP
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Temple-Inland Inc., Austin, Texas, USA, announced that at a special meeting on December 7, stockholders approved a merger agreement with International Paper Co., Memphis, Tenn., with 86,908,118 shares of Temple-Inland common stock voting in favor of the merger, representing more than 98% of the shares voted. All other matters submitted to a vote of the stockholders were also approved.
Completion of the merger is subject to other customary closing conditions, including the receipt of regulatory approval.
Temple-Inland is a producer of corrugated packaging and building products. The fully integrated corrugated packaging operation consists of seven mills and 57 converting facilities. The building products operation manufactures a diverse line of building products for new home construction, commercial, and repair and remodeling markets.
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