Weyerhaeuser to Acquire Longview Timber from Brookfield Asset Management for $2.65B

Weyerhaeuser Company

today announced it has a signed definitive stock purchase agreement to acquire Longview Timber LLC from affiliates of Brookfield Asset Management

for $2.65 billion, which includes the assumption of debt. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in July 2013. (Logo: http://photos.prnewswire.com/prnh/20120111/AQ34535LOGO) The company is acquiring approximately 645,000 acres of unique, high-quality timberlands in Washington and Oregon that are highly complementary and contiguous with the company's existing acreage. This transaction will expand Weyerhaeuser's timber holdings in the Pacific Northwest by 33 percent to approximately 2.6 million acres and increase the total amount of U.S. timberlands it owns or controls to approximately 6.6 million acres. The company expects to reach annual synergies of approximately $20 million within two years of closing. Upon closing, Weyerhaeuser expects the acquisition to be immediately accretive to the