07:07 AM EDT, 10/14/2025 (MT Newswires) -- Rayonier ( RYN ) said Tuesday it will merge with PotlatchDeltic ( PCH ) in an all-stock deal.

Under the deal, PCH holders are set to receive 1.7339 Rayonier ( RYN ) shares per PCH share held for an implied value of $44.11, with closing planned for late Q1 or early Q2 2026.

The combined entity is expected to control about 4.2 million timberland acres in 11 states and operate seven wood-products plants with 1.2 billion board-feet lumber capacity and 150 million square feet of plywood capacity, the company said.

Pro forma equity value is estimated at $7.1 billion and enterprise value at $8.2 billion, including $1.1 billion of net debt, with about $40 million in run-rate synergies within 24 months, Rayonier ( RYN ) said.

In addition, the company also said post-close leadership will include Rayonier ( RYN ) CEO Mark McHugh continuing as president and chief executive officer, PotlatchDeltic ( PCH ) Chief Financial Officer Wayne Wasechek as CFO, and PotlatchDeltic ( PCH ) CEO Eric Cremers as executive chair for 24 months, with headquarters in Atlanta.

Rayonier ( RYN ) also declared a one-time $1.40 per-share special dividend payable Dec. 12, in cash and stock.

Shares of Rayonier ( RYN ) were down by more than 1.2%, while shares of PotlatchDeltic ( PCH ) were up over 3.4% in recent Tuesday premarket activity.