Rayonier to Buy PotlatchDeltic to Create US Lumber Giant (3)

Rayonier Inc. agreed to buy PotlatchDeltic Corp. in an all-stock deal valued at about $3.4 billion that would create one of the largest publicly traded timber and wood products companies in North America.

The deal, which will create a new company with 4.2 million acres of land across 11 states, comes as the Trump administration has implemented tariffs to support an industry struggling with low prices amid weak housing and construction markets.

Under terms of the deal, PotlatchDeltic holders will receive 1.7339 shares of Rayonier for each of their shares, the companies said in a statement Tuesday. That would imply ...