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Article: Temple-Inland Announces the Completion of the Spin-Offs of Guaranty Financial Group Inc. and Forestar Real Estate Group Inc.
- Article from:
- Business Wire
- Article date:
- December 31, 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 the previously announced spin-offs of Guaranty Financial Group Inc. and Forestar Real Estate Group Inc. were completed as of the close of business on December 28, 2007 through tax-free distributions of Guaranty and Forestar common stock 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 has received one common share of Guaranty and one common share of Forestar for every three common shares of Temple-Inland held at the close of business on the Record Date. Any Temple-Inland ...