IP Extends T-I Offer Expiration Date One Month
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International Paper Co., Memphis, Tenn., USA, this week said it will extend the expiration date for now of its tender offer for all outstanding common shares of Temple-Inland Inc., Austin, Texas, for $30.60 in cash. Accordingly, the offer and withdrawal rights are now scheduled to expire at 5 p.m., Eastern Time on September 8, unless further extended. The tender offer was previously scheduled to expire at 5 p.m., Eastern Time on August 9.
IP reports that, based on a preliminary count by the depositary for the tender offer, approximately 8.5 million shares of Temple-Inland common stock have been tendered and not withdrawn to date. Except for the extension of the expiration date, all other terms and conditions of the tender offer remain unchanged. If the tender offer is extended further, IP noted that it will issue a press release announcing the extension at or before 9 a.m., Eastern Time, on the next business day after the date the tender offer was scheduled to expire.
Temple Inland's stockholders may obtain copies of all of the offering documents free of charge at the SEC website or by directly requesting copies of all of the offering documents free of charge at Innisfree M&A Inc., the information agent for the offer, at (877) 456-3488 (toll-free). Banks and brokers may call collect at (212) 750-5833.
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