Weyerhaeuser consolidates its position as a timberland REIT powerhouse.
Timber REITs Weyerhaeuser, Plum Creek Agree to Merge
Timber REITs Weyerhaeuser (NYSE: WY) and Plum Creek (NYSE: PCL) said Nov. 8 that they have agreed to merge, creating a combined company with a current market value of $ 23 billion.
The new company will retain the Weyerhaeuser name and ticker symbol. It will be the largest private owner of timberland in the United States, the companies said, with assets of more than 13 million acres. The companies also said they expect to realize annual cost synergies of $ 100 million.