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Article: Temple-Inland Announces Details for Completion of the Spin-Offs of Guaranty Financial Group Inc. and Forestar Real Estate Group Inc.
- Article from:
- Business Wire
- Article date:
- November 29, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AUSTIN, Texas -- Temple-Inland Inc. (NYSE:TIN) today announced that its Board of Directors has approved the final terms of the previously announced spin-offs of Guaranty Financial Group Inc. and Forestar Real Estate Group Inc. through tax-free distributions of Guaranty and Forestar common stock to Temple-Inland stockholders. The distributions are expected to be made on December 28, 2007 (the "Distribution Date") to Temple-Inland stockholders of record as of the close of business on December 14, 2007 (the "Record Date").
As a result of the distributions, each Temple-Inland stockholder will receive one common share of Guaranty and one common share of Forestar for ...