On Tuesday, October 14, 2025, PotlatchDeltic Corporation (NASDAQ: PCH) and Rayonier Inc. (NYSE: RYN) announced an all‑stock merger of equals. The companies agreed to combine their timberland, wood‑products, and real‑estate businesses into a single land‑resources REIT. The transaction is structured as a share exchange, with each PotlatchDeltic share being swapped for 1.7339 shares of Rayonier.
The exchange ratio values a PotlatchDeltic share at $44.11, representing an 8.25% premium to the closing price on October 10, 2025. Under the terms, Rayonier shareholders will own approximately 54% of the combined entity, while PotlatchDeltic shareholders will hold about 46%. The deal is a true merger of equals, with both boards approving the transaction.
The combined company will have an equity market capitalization of roughly $7.1 billion and an enterprise value of about $8.2 billion, making it the largest U.S. land‑resources and lumber company. The merger expands the combined timberland portfolio to roughly 4.2 million acres and adds seven wood‑products facilities, positioning the new entity to capture synergies in harvesting, manufacturing, and natural‑climate‑solutions development. The announcement marks a significant shift in the timber industry, creating a platform with enhanced scale and diversified revenue streams.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.