Notable Mergers and Acquisitions of the Day 09/07: (IP)/(TIN) (LUFK) (HAL)

• International Paper (NYSE: IP) and Temple-Inland Inc. (NYSE: TIN) today announced that they have entered into a definitive merger agreement under which International Paper will acquire all of the outstanding common stock of Temple-Inland for $32.00 per share in cash, plus the assumption of $600 million in Temple-Inland's year end debt. The total transaction value is approximately $4.3 billion.
  
  The transaction is expected to be accretive to International Paper's shareholders in year one after closing. It is expected to close in Q112.
  
  As contemplated by the merger agreement, International Paper will terminate its existing tender offer to acquire all of the outstanding common shares of Temple-Inland for $30.60 per share, and Temple-Inland will hold a special meeting of its stockholders to vote on the transaction. In addition to the approval of Temple-Inland's stockholders, the transaction is subject to customary closing conditions, including antitrust approvals.
  
  Evercore Partners and UBS Investment Bank served as financial advisors to International Paper and Goldman, Sachs & Co. served as financial advisor to Temple-Inland. Debevoise & Plimpton LLP served as International Paper's legal counsel and Temple-Inland was advised by Wachtell, Lipton, Rosen & Katz.
  
  
• Lufkin Industries, Inc. (Nasdaq: LUFK), has signed an Asset Purchase Agreement to acquire substantially all of the assets of Quinn's Oilfield Supply Ltd., including certain affiliates, for approximately $303 million in cash subject to certain adjustments.
  
  The acquisition is expected to be accretive to Lufkin's earnings in 2012 and is expected to close before the end of 2011, subject to certain closing conditions and regulatory approvals. Financing for this transaction is anticipated to include a combination of borrowings under an expanded revolving credit facility and a senior secured term loan.
  
  
• Halliburton (NYSE: HAL) has entered into a definitive agreement to acquire Multi-Chem Group, LLC.
  
  Multi-Chem is a provider of oilfield production and completion chemicals and services that address production, processing and transportation challenges.
  
  The acquisition is subject to regulatory approvals and other customary closing conditions. The parties expect to obtain all required regulatory clearances during the fourth quarter of 2011.

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