Takeovers Prove Toxic for Arbs as Higher Bids Vanish

Takeovers Prove Toxic for Arbs as Higher Bids Vanish

Temple Inland Inc. via Bloomberg

A worker at a Temple-Inland Inc. production facility. Corrugated cardboard maker Temple-Inland plunged last week by the most since International Paper Co.’s $3.4 billion hostile bid was announced in June, wiping out $350 million in market value.