PCH - Catchmark to combine with PotlatchDeltic in a stock deal

Catchmark (NYSE:CTT) will receive 0.23 common shares of PotlatchDeltic (NASDAQ:PCH) stock for each common share, reflecting a price per share of $12.88 and a 55% premium to CatchMark’s common share price as of the close of business on May 27, 2022. The combined company is expected to have a pro forma market capitalization over $4B and total enterprise value of more than $5B, including $557M in net debt. The acquisition by PotlatchDeltic will strengthen and diversify a leading integrated timber REIT and continue to enhance shareholder value. Upon closing the transaction in the second half of 2022, PotlatchDeltic (PCH) stockholders will own approximately 86% of the combined company and CatchMark (CTT) stockholders will own approximately 14% on a fully diluted basis. Brian M. Davis, President and Chief Executive Officer of CatchMark, said, “This partnership with PotlatchDeltic unlocks value for our stockholders and positions us well for sustainable success over the

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Catchmark to combine with PotlatchDeltic in a stock deal