Rayonier To Acquire Pope Resources - Quick Facts

(RTTNews) - Rayonier Inc. (RYN) agreed to acquire all of the outstanding limited partnership units of Pope Resources for consideration consisting of equity and cash. The transaction values Pope Resources' limited partnership equity at $554 million or $126.91 per unit.

As per the terms of the deal, Pope Resources unitholders will have the right to elect to receive 3.929 common shares of Rayonier, 3.929 units of Rayonier Operating Partnership LP, or $125 in cash in exchange for each unit of Pope Resources.

Rayonier expects that the transaction will increase annual Adjusted EBITDA and Cash Available for Distribution by about $38 million and $25 million, respectively, over the next five years.

The transaction is expected to close in mid-2020.