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Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed sale of Temple-Inland Inc. (NYSE:
TIN) (referred to as "Temple-Inland" or the “Company”) to International Paper Co. (“International Paper”) in a cash transaction valued at approximately $4.3 billion.
Under the terms of the agreement, International Paper will acquire all of the outstanding common stock of Temple-Inland for $32.00 per share in cash, plus the assumption of $600 million in Temple-Inland's year end debt. As contemplated by the merger agreement, International Paper will terminate its existing tender offer to acquire all of the outstanding common shares of Temple-Inland for $30.60 per share, and Temple-Inland will hold a special meeting of its stockholders to vote on the transaction.