Ray Merola • 10 Comments
Wed, Aug. 10, 6:27 PM
- International Paper (NYSE:IP) popped higher during today's trade on rumors it could be a possible takeover target, with BMO Capital analysts highlighting privately-held Koch Industries as a potential buyer since it has been "actively consolidating the forest products sector for more than a decade."
- BMO also speculates on an IP pairing with Georgia-Pacific, saying the combination would pose regulatory challenges and likely require divestitures, particularly in the container board and fluff pulp sectors.
- IP-GP would sport a combined pro forma market share of ~45% in container board and 65%-70% in fluff pulp, including IP’s pending acquisition of Weyerhaeuser’s (NYSE:WY) fluff pulp assets.
Jan. 28, 2015, 9:15 AM
- Shares of Graphic Packaging Holding (NYSE:GPK) are on watch after Vertical Research Partners identifies the stock as a likely target of International Paper (NYSE:IP).
- Analysts in the sector think the merger between Rock-Tenn and MeadWestvaco will push more paper producers into a consolidation mode.
- GPK is already up 4.8% for the week.
Apr. 9, 2014, 10:45 AM
- International Paper (IP +0.8%) acquires the remaining 25% stake in Orsa International Paper Embalagens that it doesn't own for ~$135M.
- The company says the transaction falls in line with its plan to selectively invest in strategic regions.
Apr. 22, 2013, 9:11 AM
Dec. 13, 2012, 9:27 AM
International Paper (IP) agrees to sell its Temple-Inland Building Product division to Georgia-Pacific for $750M in a deal expected to close in the first quarter of 2013. Assets turned over will include 16 manufacturing facilities across eight states. The company plans to use the funds kicked up from the sale to reduce debt. IP +1.7% premarket.| Dec. 13, 2012, 9:27 AM
Feb. 10, 2012, 12:29 PM
International Paper (IP +0.1%) and Temple-Inland (TIN +0.4%) reach agreement with the Department of Justice that allows IP's acquisition of TIN to proceed. The combined company will undertake the post close divesture of 970,000 tons of containerboard mill capacity and divest three facilities.| Feb. 10, 2012, 12:29 PM
Jan. 30, 2012, 8:29 AM
International Paper (IP) and Temple-Inland (TIN) agree to a second extension of the Justice Department’s period for reviewing the proposed acquisition of TIN. The extension now runs until Feb. 13, as the parties attempt to resolve DOJ’s concerns surrounding the pending transaction.| Jan. 30, 2012, 8:29 AM
Sep. 6, 2011, 9:34 AM
International Paper (IP) gets its deal to acquire Temple-Inland (TIN +24.1%) at $32/share plus $600M in debt assumption, for a $4.3B transaction. The boards approved the deal after a summer during which IP took a smaller $3.1B offer to shareholders and TIN adopted a poison pill defense.| Sep. 6, 2011, 9:34 AM
Aug. 24, 2011, 2:55 PM
International Paper (IP +2.5%) is likely to proceed with its takeover bid for Temple-Inland (TIN +4.3%), though it now has the opportunity to lower its bid after Temple was sued for more than $1B for "fraudulently looting" a former subsidiary, RBC Capital says. The firm maintains its Outperform rating on IP.| Aug. 24, 2011, 2:55 PM | 1 Comment
Jul. 18, 2011, 10:18 AM
Temple-Inland (TIN -0.8%) again rejects International Paper's (IP -2%) $3.3B hostile takeover bid, saying that it "grossly undervalues" the company and urging holders not to tender their shares. TIN's poison pill should ensure IP's bid fails unless the offer is raised. (previous)| Jul. 18, 2011, 10:18 AM
Jul. 14, 2011, 8:27 AM
Citi calls International Paper (NYSE:IP) a Buy, and sets a $36 price target on shares. The firm is entrenched in a $3.3B bid for Temple-Inland (NYSE:TIN) that could be a long process, after the company adopted a poison pill to stop any buyer from purchasing more than 10% if its shares.| Jul. 14, 2011, 8:27 AM
Jul. 11, 2011, 4:34 PM
Jun. 7, 2011, 2:52 PM
International Paper (IP +1.1%) and Temple-Inland (TIN +42.3%) are in focus after IP's $30.60/share bid was rejected despite being a 46% premium to Monday's closing price. Other packaging and paper stocks rally on calls from bullish analysts that the industry is heading for consolidation: PKG +6.9%, WY +6.2%, BZ +5.6%, KS +4.3%, RKT +3.1%.| Jun. 7, 2011, 2:52 PM
Jun. 6, 2011, 4:23 PM
Jun. 6, 2011, 4:08 PM