Plum Creek Merger Creates Largest Private Timberland Ownership in US
Plum Creek Timber Co., which has a number of holdings in Maine, is being purchased by the Weyerhauser Co. The deal, announced yesterday, would create a $23 billion dollar company with more than 13 million acres of timberland, the largest private ownership of timberland in the U.S.
"With over 13 million acres, the company will be in a league of it's own in terms of scale, geographic diversity, market insight and operational and financial expertise," says Plum Creek CEO Rick Holley.
The transaction is expected to close in the late first quarter or early second quarter of 2016.