Arab Today, arab today rival makes hostile play for templeinland
Last Updated : GMT 15:51:22
Arab Today, arab today
Arab Today, arab today

Rival makes hostile play for Temple-Inland

Arab Today, arab today

Arab Today, arab today Rival makes hostile play for Temple-Inland

Memphis - UPI

Memphis\' International Paper Co. Monday announced a tender for all outstanding common stock of Temple-Inland, a deal worth $3.3 billion. The offer of $30.60 per share represents a 46 percent premium to the June 6 price for Temple-Inland, based in Austin, Texas, and will be in effect until Aug. 9. John Faraci, chairman and chief executive officer of International Paper, said the offer was pretty attractive since his team figured Temple-Inland was worth $21-$24 per share. \"The premium we are offering is substantial, the multiple is well above recent directly comparable transactions, and we are providing Temple-Inland shareholders the certainty of cash in the midst of a very uncertain economic environment,\" he said in a written statement. Temple-Inland is a rival of International Paper in the corrugated cardboard business, which is a mainstay of packaging. Temple-Inland rejected a friendlier buyout offer last month. \"We believe Temple-Inland\'s price expectations are unrealistic and their unwillingness to engage in any meaningful discussions with respect to value has left us with no alternative but to make our offer directly to Temple-Inland shareholders,\" Faraci said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rival makes hostile play for templeinland Arab Today, arab today rival makes hostile play for templeinland

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rival makes hostile play for templeinland Arab Today, arab today rival makes hostile play for templeinland

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday