Temple-Inland Rebuffs International Paper’s Acquisition Proposal

* International Paper’s claims about its proposal rely on valuation metrics from "precedent" transactions that involved underperforming assets that are not comparable to Temple-Inland and its industry-leading returns, high-quality assets and low-cost structure.

* The retrospective focus of these "comparables" does not take account of the profound changes that are occurring in the corrugated packaging industry, which have led to reduced pricing volatility, higher average prices, and widely-held expectations that these positive industry trends will continue.