US Lumber Giants Agree to Combine in $7.1 Billion Deal

Rayonier Inc. agreed to buy PotlatchDeltic Corp. in an all-stock deal valued at about $3.4 billion that would create one of the largest publicly traded timber and wood products companies in North America.

The deal, which will create a new company with 4.2 million acres of land across 11 states, comes as the Trump administration has implemented tariffs to support an industry struggling with low prices amid weak housing and construction markets.