Tuesday, February 20, 2007

Icahn Seeks to Nominate 4 to Temple-Inland (TIN) Board

On Friday, 6.7% holder Carl Icahn delivered a letter to Temple-Inland (NYSE: TIN), notifing the company of his intent to appear at the 2007 annual meeting, in person or by proxy, to nominate and seek to elect individuals as members of the board of directors.

Icahn filed to nominate 4 directors to the WCI board: Jose Maria Alapont, Ambassador John R. Bolton, Keith A. Meister, James J. Unger.

In his original 13D filing, Icahn said the stock is undervalued due to the conglomerate structure of the company. Icahn said he plans to recommend a divestiture or spin-off of one or more of the Company's component businesses.

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