Oct 23 (Reuters) - U.S. forest products company Potlatch Corp confirmed on Monday it would buy smaller peer Deltic Timber Corp in an all-stock transaction.
Potlatch’s offer values Deltic at $95.4 per share, representing a premium of about 7 percent.
The equity value of the offer is about $1.16 billion, based on 12.1 million Deltic’s diluted shares outstanding as of June 30.
Reuters had reported the deal on Sunday. (Reporting by Arunima Banerjee in Bengaluru; Editing by Bernard Orr)