U.S. News

Temple Inland to Meet With Holders on Hostile Bid


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.