Temple-Inland Rebuffs International Paper’s Acquisition Proposal

In announcing the shareholder rights plan, Doyle R. Simons, chairman and CEO of Temple-Inland, asserted, “The rights are designed to assure that all of Temple-Inland’s stockholders receive fair and equal treatment in the event of any proposed takeover of the company, to guard against abusive tactics to gain control of Temple-Inland without paying all stockholders a premium for that control, and to enable all Temple-Inland stockholders to realize the long-term value of their investment in the company.