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US: Potlatch to buy Deltic, creating 2 million-acre timber giant

By  |  October 23, 2017

Potlatch is buying Deltic Timber in a stock deal, creating a company with nearly 2 million acres of woodlands in the South and Pacific Northwest.

Washington-based Potlatch and Arkansas-based Deltic Timber said Monday, October 23, that the merged company would be called PotlatchDeltic Corp. and would be valued at more than US$4 billion, including US$700 million in net debt. The combined company will have 1,500 employees.

The companies said their boards had already approved a deal, which now goes before shareholders. Deltic shareholders will receive 1.8 common shares of Potlatch for each share held. Current Potlatch shareholders would own two-thirds of the company when the transaction closes in the first half of 2018.

Potlatch has timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi. Deltic operates primarily in Arkansas and Louisiana.

Full Content: Fortune

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