Rayonier and PotlatchDeltic announced they will merge in an all-stock deal valued at approximately $8.2 billion, creating one of the largest lumber and wood products companies in North America.
The new company represents ownership of approximately 4.2 million acres of forest land across 11 US states and operates seven wood products plants, including six lumber mills with a combined capacity of approximately 1.2 billion plank feet. The deal comes at a time of volatility in the lumber market, due to new US tariffs on softwood lumber imports and declining mill production amid a weak housing market. PotlatchDeltic shareholders are set to receive approximately 1.7339 Rayonier shares for each share, potentially valuing PotlatchDeltic at approximately $3.41 billion, representing an 8.25% premium to the last closing price. Upon completion of the transaction, new Rayonier shareholders will own approximately 54% of the company, and PotlatchDeltic shareholders will own approximately 46%. The new company is planned to be headquartered in Atlanta, with regional offices in Spokane, Washington, and Wildlight, Florida. The transaction is expected to close in the late first quarter or early second quarter of 2026.
