Merger of Timber Giants to Create $23B REIT
ByExperienced a growth spurt? Let Real Estate Forum and GlobeSt.com know! We’re introducing Fastest Growing Companies. Nominate your company by November 9.
Weyerhaeuser has been based in the Tacoma area since its founding.
Photo courtesy of Skidmore, Owings & Merrill
FEDERAL WAY, WA—Consolidation is coming to the timber REIT sector. Weyerhaeuser Co. and Plum Creek said Sunday that they would merge, with Weyerhaeuser paying about $8.4 billion to acquire its rival in an all-stock transaction.
The combined company is expected to have an equity value of $23 billion based on current share prices. Weyerhaeuser and Plum Creek say the merged entity, which will continue trading under the Weyerhaeuser stock ticker, will be “the world’s premier timber, land and forest products company” with more than 13 million acres of timberland across the US…
