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.
As part of long-term rebuilding efforts in the hurricane-ravaged Eastern Seaboard and Louisiana, World Vision is assisting families and communities hit by past year's devastating hurricanes Sandy and Isaac, supported by more than $130,000 in building materials donated by Weyerhaeuser.
Weyerhaeuser Company reported net earnings of $143 million, or 26 cents per diluted share, for the fourth quarter. For the full year 2012, Weyerhaeuser reported net earnings of $385 million, or 71 cents per diluted share, on net sales of $7.1 billion.