International Paper Co. (IP) and Temple-Inland Inc. (TIN) said Friday that they have agreed to extend the U.S. Department of Justice's review period with respect to International Paper's acquisition of Temple-Inland until February 13 to provide the parties with time to enter into binding documentation to resolve the DOJ's concerns with respect to the pending deal.
International Paper Chairman and CEO John Faraci said, "We have been working constructively with the DOJ to address their concerns and anticipate entering into a definitive agreement on terms that are acceptable to all parties. The acquisition of Temple-Inland is a compelling value proposition for International Paper shareholders, and will create numerous benefits for our customers and employees."
In September, International Paper said that it would acquire packaging and building products maker Temple-Inland for $32.00 per share in cash and assume Temple-Inland's $600 million of debt. The total deal value is around $4.3 billion.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.