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VOL. 127 | NO. 28 | Friday, February 10, 2012

IP-Temple Merger Gets DOJ Approval

By Bill Dries

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The anti-trust division of the U.S. Department of Justice has reached an agreement on the merger of International Paper Co. and Temple-Inland Inc. in a federal court consent decree that involves the sale of three paper mills.

The agreement clears the way for Memphis-based IP to formally acquire Austin-based Temple-Inland.

The terms of the consent decree spell out a post-merger divestiture of two Temple-Inland containerboard mills in Ontario, California; and New Johnsonville, Tenn.; and an IP mill in Heuneme, Calif. The three mills account for 970,000 tons of containerboard capacity.

The merged company has four months to sell the plants with options for two 30-day extensions.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 376 10,434
MORTGAGES 124 449 13,881
FORECLOSURE NOTICES 14 56 2,766
BUILDING PERMITS 196 798 23,420
BANKRUPTCIES 68 264 8,803
BUSINESS LICENSES 24 77 3,613
UTILITY CONNECTIONS 251 637 13,380
MARRIAGE LICENSES 21 93 3,117

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