International paper acquired its competitor
[packaging E-line] on September 6, Beijing time, international paper announced that it had reached a final agreement with its competitor Temple inland Inc. international paper would acquire Temple inland at a price of $32 per share and bear the latter's debt of $600million. As a result, the total value of this acquisition reached $4.3 billion. The merged company will occupy about 40% of the corrugated packaging material market in North America
international paper is the largest corrugated packaging manufacturer in North America, and temple inland ranks third. In June this year, international paper offered $30.60 per share to acquire Temple inland. After being rejected by the other party on the grounds of low quotation, international paper raised its offer to $32 per share, a 30% premium over the closing price of temple inland on September 2, 2011
this transaction has been approved by the board of directors of the two companies. After being approved by shareholders and regulators, the transaction is expected to be completed in the first quarter of next year
international paper materials are also widely used in aerospace, fire safety, military equipment and other fields. According to the industry, this acquisition will likely increase its profits in the first year after completion, and save about 300million dollars a year in the first two years after completion. If the round the clock production line is the "lifeline" cost for entrepreneurs
temple INLA "it's really easy to (start a business) here. Nd held a special shareholders' meeting to vote on this transaction. The company did not disclose whether the date of this meeting has been determined.