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Temple Inland to Meet With Holders on Hostile Bid

CNBC.com
Monday, 20 Jun 2011 | 4:09 PM ET
Temple-Inland
Temple-Inland

Temple Inland will meet with shareholders this week to discuss an offer from packaging producer International Papers, CNBC has learned.

Most recently, Temple Inland rejected the $30.60 per share hostile bid.

The company has various mechanisms in place to block against a hostile deal: It has a staggered board, nominations can't be made until next January, and special meetings cannot be called.

Temple-Inland could not be reached for comment.

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