|
|
 |
|
Viewing report
|
|
|
|
Bulletin: International Paper Co. Ratings Unaffected By Takeover Bid For Temple-Inland Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 8, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on International Paper Co. (IP; BBB/Stable/--) are unchanged at this time by IP's announcement that it proposed to acquire Temple-Inland Inc. (BBB/Negative/--) for $30.60 per share, or about $3.3 billion in cash, plus the assumption of debt. Based on our assessment of both companies' business risk profiles as satisfactory, and IP's planned financing using a combination of $1.5 billion of cash on hand and $2.0 billion of debt, we believe the proposed transaction, if consummated, would have been consistent with the current rating on IP. However, since the Board of Directors of Temple-Inland has rejected the offer, we will monitor any...
Companies mentioned in this report are: International Paper Co.,Temple-Inland Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
