Temple-Inland (TIN) - Split-up Announced

After prompting by Carl Icahn, Temple-Inland (TIN) has announced that they will be splitting up by year's end.

The forest-products company said Feb. 26 that it plans to split into three public companies and sell its timberlands by year-end.

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But Jastrow is willing now to spin-off his company's financial services and real estate operations while keeping its manufacturing operations, which include packaging and building products. "Each of the three public companies - manufacturing, financial services and real estate - will be well positioned in the marketplace, have an appropriate capital structure and will benefit from greater strategic focus," Jastrow said in the release.