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International Paper Offers to Buy Temple Inland for $3B

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Description
FBN’s Robert Gray on International Paper’s bid to take over Temple Inland.
Duration 1:05
Date Jun 6, 2011

This transcript is automatically generated

I'm Robert Gray with your Fox Business -- shares of Temple-Inland soaring in after hours trading on a takeover bid from International Paper.

-- going public with its offer after being rejected by temple -- -- -- the thirty dollar sixty cent per share bid as a 44%.

Premium.

To -- analyst price at noon today.

Meanwhile a slowing economy and -- economic recovery rather continue to weigh on Wall Street stocks sliding for a fourth day.

It's in the five weeks clock it was six now at the closing bell the down 061 point said below thirteen at 121100 dollar.

Fannie -- meanwhile releasing details on a list of new rules aimed at streamlining -- foreclosure process.

But he standards under the Federal Housing Finance Agency seek to speed up the process.

We'll also ensure homeowners know about their payment status before the foreclosure process begins.

Recently -- in foreclosure law firms have come under fire for improperly seizing homes by using fraudulent or incomplete paperwork.

And that is the latest from Fox Business.