Weyerhaeuser intends to purchase Longview Timber
Weyerhaeuser announced that it plans to offer 28 million of its shares to the public. The company intends to use the proceeds to acquire Longview Timber LLC. This purchase will cost $2.65 million and will add 645,000 acres to Weyerhaeuser’s land.
Weyerhaeuser announced that it has a signed a purchase agreement to acquire Longview Timber and that sale is expected to close in July. The company expects to reach annual earnings of approximately $20 million within two years of closing.
The company will be acquiring approximately 645,000 acres of land in Washington and Oregon, including land in Grays Harbor. This would expand Weyerhaeuser’s timber holdings in the Pacific Northwest by 33 percent to approximately 2.6 million acres and increase the total amount of US lands it owns or controls to approximately 6.6 million acres.