Courtesy of Benzinga.
Weyerhauser Co (NYSE: WY), a real estate investment trust company that is an owner of timberlands, entered into an agreement to acquire Plum Creek Timber Co. Inc. (NYSE: PCL), a peer timberland owner, back in November of last year.
On Friday, Plum Creek Timber announced that Institutional Shareholder Services ("ISS"), a leading independent proxy advisory firm, issued a report in which the firm recommended investors vote to approve the proposed merger.
Plum Creek will hold a special shareholder meeting on February 12 to vote on the proposed merger.
"We are pleased that ISS supports the merger transaction between Plum Creek and Weyerhaeuser and recommends that shareholders vote in favor of the Agreement and Plan of Merger. The proposed merger offers a compelling opportunity to bring together an extraordinary set of assets and a best-in-class management team that, when combined, will create the world's premier timber, land and forest products company," said Rick Holley, chief executive officer.
Posted-In: Institutional Shareholder Services ISS REIT timber TimberlandNews M&A
