Icahn enters into new swap agreements on Temple-Inland

By Lisa Kerner

Charlotte, N.C., May 28 - Temple-Inland Inc. investors led by Carl C. Icahn terminated certain cash-settled total return swap agreements and entered into new cash-settled total return swap agreements with different reference prices and expiration dates.

The new agreements are on substantially the same terms as the prior agreements, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors currently have long economic exposure to a total of 5,866,778 shares through total return swap agreements, the filing said.

Austin, Texas-based Temple-Inland manufactures containerboard and converts it into a line of corrugated packaging.

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