With the completed acquisition of Longview Timber's approximately 645,000 acres of forestland in Washington state and Oregon in July, Weyerhaeuser Company now owns or manages approximately 20.5 million acres of forestland in the U.S. and Canada, making the company one of North America's—and the world's—largest private sustainable forestry operations.

One of the world's largest private timberland owners and lumber producers, Weyerhaeuser looks to get even bigger following news of a $2.65 billion acquisition and plant upgrades as it bolsters its core timber business for the growing housing boom.

Weyerhaeuser Company (NYSE: WY) announced it has a signed definitive stock purchase agreement to acquire Longview Timber LLC from affiliates of Brookfield Asset Management Inc. for $2.65 billion, which includes the assumption of debt. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in July 2013.

LONGVIEW, WA -- The Board of Directors of Longview Timber Corp. announced the resignation of Blake Rowe, president.