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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 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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