International Paper commences tender offer

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16 August 2006 — Memphis (TN): International Paper (IP) is commencing a tender offer to purchase approximately 41.7 million shares or roughly 8.4 percent of its currently outstanding shares.

 

IP’s board of directors authorised the share repurchase programme in July to acquire up to $3 billion of the company’s stock through the end of 2007 as part of its transformation plan.