Rayonier Inc. to Merge with PotlatchDeltic Corporation in Strategic Transaction Valued at $[insert value]

In a significant move within the forestry and timberland sector, Rayonier Inc. (NYSE: RYN) has entered into a merger agreement with PotlatchDeltic Corporation (NASDAQ: PCH) as of October 13, 2025. This merger of equals will strategically position both companies to leverage their combined resources and expertise in the industry.

Under the terms of the merger agreement, PotlatchDeltic will merge into Redwood Merger Sub, LLC, a wholly owned subsidiary of Rayonier, with the latter surviving as the primary entity. This transaction has been unanimously approved by the boards of directors of both companies, reflecting strong confidence in the potential benefits of this merger.

**Financial Implications:** The merger stipulates that each share of PotlatchDeltic common stock will be exchanged for an adjusted ratio of 1.8185 shares of Rayonier common stock, along with a cash payment of $0.61 per share. This merger consideration, which totals a fixed value, will not be subject to fluctuations in the stock market prior to the completion of the merger. In addition to the stock exchange, Rayonier has declared a one-time special dividend of $1.40 per share to its shareholders of record as of October 24, 2025, which will impact the final transaction value.

**Strategic Rationale:** This merger is anticipated to create a robust entity that can better navigate market challenges and capitalize on growth opportunities within the timberland and wood products market. By combining their operational strengths and geographic footprints, Rayonier and PotlatchDeltic aim to enhance efficiency, reduce costs, and improve shareholder value.

**Timeline and Next Steps:** The merger is projected to close in 2026, pending necessary regulatory approvals and shareholder votes from both companies. Special meetings will be convened for Rayonier shareholders and PotlatchDeltic stockholders to vote on the merger agreement and related proposals.

**Market Impact:** Shareholders of Rayonier will retain their existing shares, while former PotlatchDeltic shareholders are expected to hold a significant stake in the newly formed entity. The merger is expected to bolster market confidence, potentially leading to enhanced stock performance for both companies following the merger's completion.

**Regulatory Considerations:** The transaction is subject to standard regulatory reviews, including antitrust evaluations, to ensure compliance with applicable laws. Both companies are committed to fulfilling these requirements to facilitate a smooth merger process.

In conclusion, the merger between Rayonier Inc. and PotlatchDeltic Corporation is poised to reshape the landscape of the forestry industry, with the combined strengths of both companies expected to drive future growth and shareholder value.