Weyerhaeuser Co. is buying Plum Creek Timber Co. for $8.44 billion to form what is expected to be one of the world’s biggest timberland and forest-products companies.
The company will keep the Weyerhaeuser name and have more than 13 million acres of timberland, the companies said on Sunday. It will be worth $23 billion by current share prices.
Plum Creek shareholders will receive 1.60 shares of Weyerhaeuser for each Plum Creek share.
The merger must be approved by the two companies’ shareholders. It is expected to close late in the first quarter of next year or early in the second quarter.
Full content: Globe St.
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