Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, December 4, 2007

Temple-Inland Announces Special Dividend

Temple-Inland announced that it has borrowed $2.14 billion and plan to use the proceeds to pay a special dividend of $10.25 per share (about $1.1 billion), reduce debt by $700 million, and other corporate purposes.  This comes less than two weeks after Carl Icahn increased his stake in the company to just under 10%., Icahn Gets His from Temple-Inland.

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