CatchMark Timber Trust Inc - Ordinary Shares - Class A

NYSE:CTT  
10.35
+0.23 (+2.27%)
Mergers / Acquisitions

Press Release - PotlatchDeltic And CatchMark To Combine To Create A Leading Integrated Timber REIT

Published: 05/31/2022 10:35 GMT
CatchMark Timber Trust Inc - Ordinary Shares - Class A (CTT) - Press Release - Potlatchdeltic and Catchmark to Combine to Create a Leading Integrated Timber Reit.
Potlatchdeltic Corp - Combined Company is Expected to Have a Pro Forma Market Capitalization Over $4 Billion and Total Enterprise Value of More Than $5 Billion.
Potlatchdeltic Corp - Catchmark Stockholders Will Receive 0.23 Common Shares of Potlatchdeltic Stock for Each Common Share of Catchmark.
Potlatchdeltic Corp - Proposed Deal for Price per Share of $12.88 for Each Common Share of Catchmark.
Potlatchdeltic Corp - Combined Company Will Have Approximately 2.2 Million Acres of Diversified High-quality Timberlands.
Potlatchdeltic Corp - Potlatchdeltic Stockholders Will Own About 86% of Combined Company, and Catchmark Stockholders Will Own About 14%.
Potlatchdeltic Corp - Board of Directors of Combined Company Will Consist of Nine Directors From Potlatchdeltic and One Director From Catchmark.
Potlatchdeltic Corp - Cash Available for Distribution ("cad") Annual Synergies Are Estimated to Be $16 Million.
Potlatchdeltic Corp - Potlatchdeltic Expects Run Rate Synergies to Be Achieved by End of First Full Year After Merger Closes.
Potlatchdeltic Corp - Expects Transaction Will Be Accretive to Cash Available for Distribution per Share in First Full Year.