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%. CFO.com, Icahn Gets His from Temple-Inland.
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