Potlach
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Potlatchdeltic to buy rival CatchMark for more than US$600 million
Potlatchdeltic Corp., a real-estate investment trust focused on owning timberland, has agreed to buy rival CatchMark Timber Trust Inc. in an all-stock deal that values CatchMark at more than $600 million. The combined company is expected to have a market valuation of more than $4 billion. It will own about 2.2 million acres of timberlands, including 626,000 acres in Idaho and over 1.5 million acres in the U.S. South. PotlatchDeltic shareholders will own about 86% of the combined company, the two REITs said. CatchMark shareholders will receive 0.23 shares of PotlatchDeltic stock for each share of CatchMark stock they own. Based on Friday's closing prices, the deal reflects a price of $12.88 for each share of CatchMark, a 55% premium, the companies said. "With CatchMark, we gain significant scale in three states and diversify our timberland holdings into some of the strongest... Continue reading
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June 1, 2022
Potlatchdeltic to buy rival CatchMark for more than US$600 million
Potlatchdeltic Corp., a real-estate investment trust focused on owning timberland, has agreed to buy rival CatchMark Timber Trust Inc. in an all-stock deal that values CatchMark at more than $600 million. The combined company is expected to have a market valuation of more than $4 billion. It will own about 2.2 million acres of timberlands, including 626,000 acres in Idaho and over 1.5 million acres in the U.S. South. PotlatchDeltic shareholders will own about 86% of the combined company, the two REITs said. CatchMark shareholders will receive 0.23 shares of PotlatchDeltic stock for each share of CatchMark stock they own. Based on Friday's closing prices, the deal reflects a price of $12.88 for each share of CatchMark, a 55% premium, the companies said. "With CatchMark, we gain significant scale in three states and diversify our timberland holdings into some of the strongest... Continue reading
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June 1, 2022
Potlatchdeltic to buy rival CatchMark for more than US$600 million
Potlatchdeltic Corp., a real-estate investment trust focused on owning timberland, has agreed to buy rival CatchMark Timber Trust Inc. in an all-stock deal that values CatchMark at more than $600 million. The combined company is expected to have a market valuation of more than $4 billion. It will own about 2.2 million acres of timberlands, including 626,000 acres in Idaho and over 1.5 million acres in the U.S. South. PotlatchDeltic shareholders will own about 86% of the combined company, the two REITs said. CatchMark shareholders will receive 0.23 shares of PotlatchDeltic stock for each share of CatchMark stock they own. Based on Friday's closing prices, the deal reflects a price of $12.88 for each share of CatchMark, a 55% premium, the companies said. "With CatchMark, we gain significant scale in three states and diversify our timberland holdings into some of the strongest... Continue reading