Temple-Inland to buy Gaylord Container Corp.Temple-Inland Inc. will buy paper packaging products manufacturer Gaylord Container Corp. in a stock and debt deal, which will help boost its position in the brown paper packaging market. Temple-Inland will pay about US$ 100 million in stock for Gaylord. Temple-Inland will also assume US$ 686 million in Gaylord's debt. If the deal is completed, Temple-Inland's subsidiary, Inland Paperboard and Packaging Inc., would become the fourth-largest containerboard con·tain·er·board n. A corrugated or solid cardboard used to make containers. producer and the third largest corrugated cor·ru·gate v. cor·ru·gat·ed, cor·ru·gat·ing, cor·ru·gates v.tr. To shape into folds or parallel and alternating ridges and grooves. v.intr. maker in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . In contrast, a New York-based hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" that holds US$ 500,000 in principal on loan notes for Gaylord has filed a class-action lawsuit seeking to halt Temple-Inland Inc.'s planned purchase of Gaylord Container. |
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