Weyerhaeuser paying $2.65B for timberlands

Weyerhaeuser Co. will acquire Longview Timber and its 645,000 timberland acres in Oregon and Washington for $2.65 billion.

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Weyerhaeuser Co. will acquire Longview Timber and its 645,000 timberland acres in Oregon and Washington for $2.65 billion.

The takeover is the largest forestry acquisition in North America after Resource Management Service LLC’s $5 billion purchase of International Paper Co. assets in 2006 and Plum Creek Timber Co.’s $3.34 billion acquisition of a timber business from Georgia-Pacific LLC in 2001, according to data compiled by Bloomberg.

The deal is expected to close in July.

Read more at Bloomberg.

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