International Paper will acquire packaging and building products company Temple-Inland for $4.3 billion, in a deal that comes after a three-month takeover battle.
Temple-Inland shareholders will receive $32 per share in cash, more than 4 percent higher than International Paper’s original June bid of $30.60 per share. International Paper, based in Memphis, Tenn., will also assume $600 million in Temple-Inland debt when the deal closes in the first quarter of 2012.
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