Memphis, Tennessee, USA, 19 December 2011 -- /PRNewswire/ -- International Paper Company (NYSE: IP) and Temple-Inland Inc. (NYSE: TIN) today announced that they have agreed with the U.S. Department of Justice (DOJ) to extend the review period for their pending merger until 27 January 2012.
Previously, the companies had agreed with the DOJ not to consummate their merger before 31 December 2011. The companies also agreed to extend the outside date under their merger agreement from 06 June to 28 June 2012.
International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia, and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company's North American distribution company. Headquartered in Memphis, Tennessee, the company employs about 59,500 people in more than 24 countries and serves customers worldwide. 2010 net sales were more than USD 25 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.
Temple-Inland Inc. is a manufacturing company focused on corrugated packaging and building products. The fully integrated corrugated packaging operation consists of seven mills and 59 converting facilities. The building products operation manufactures a diverse line of building products for new home construction, commercial and repair and remodeling markets. Additional information is available at www.templeinland.com.