DOJ Clears International Paper/Temple-Inland Merger, With Conditions
10 Février 2012 - 6:23PM
Dow Jones News
The Justice Department on Friday gave antitrust clearance to the
merger of International Paper Co. (IP) and Temple-Inland Inc.
(TIN), but the companies agreed to divest three containerboard
mills as a condition of government approval.
The Justice Department filed a proposed settlement in a federal
court in Washington that requires the companies to sell
Temple-Inland's containerboard mills in Waverly, Tenn., and
Ontario, Calif. The settlement also requires the divestiture of
either International Paper's containerboard mill in Oxnard, Calif.,
or its mill in Henderson, Ky.
The department said the merger, as originally proposed, would
likely have led to higher prices for containerboard and corrugated
boxes.
-By Brent Kendall, Dow Jones Newswires; 202-862-9222;
brent.kendall@dowjones.com
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