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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 77 369 15,321
MORTGAGES 115 515 19,435
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 182 873 33,089
BANKRUPTCIES 54 282 11,428
BUSINESS LICENSES 22 125 4,936
UTILITY CONNECTIONS 77 304 18,534
MARRIAGE LICENSES 22 138 4,124

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