The first time John Faraci tried to climb Alaska's Mount Denison, he failed. Biting snow and wind kept the future chief executive of International Paper Co (IP.N) from getting past the base camp on the 7,600-foot-high volcano. A bush pilot had to wait seven days for clear weather to pick up the dejected small group, who subsisted on dug clams and speared salmon. Rather than give up, Faraci strategized on how to eventually conquer the mountain. That tenacity to win will serve Faraci well as he tries to purchase smaller packager producer Temple-Inland Inc (TIN.N) for $3.3 billion.
International Paper Company (International Paper) is a global paper and packaging company, with markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Shares of IP traded higher by 0.44% or $0.13/share to $29.78. In the past year, the shares have traded as low as $19.33 and as high as $33.01. On average, 5443850 shares of IP exchange hands on a given day and today's volume is recorded at 18395056.
Temple-Inland Inc. manufactures corrugated packaging and building products, which the Company considers as two separate operating segments. Shares of TIN traded higher by 40.36% or $8.48/share to $29.49. In the past year, the shares have traded as low as $15.48 and as high as $26.21. On average, 1272620 shares of TIN exchange hands on a given day and today's volume is recorded at 26006826.
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