While the TV Guys Play with Their Rep, from Jim Lackey
International Paper (IP +3.34%) said it would pay $30.60 a share for all of Temple - Inland's (TIN +42.36%) 108 million shares outstanding. The deal represents a 46% premium to Temple-Inland's closing stock price of $21.01 Monday.
Just when it looks like the markets are doomed, companies pay a high price to acquire their cohorts, which we have all seen before in bull mania past. Yet how common has it ever been to spend so much, and that the acquirers stocks goes up as well as the company purchased?
That doesn't seem bearish for stocks.