Weyerhaeuser (WY) Prices 29M Offering at $27.75/Share
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Weyerhaeuser Company (NYSE: WY) announced the pricing of the public offering of 29,000,000 common shares at $27.75 per share. Weyerhaeuser raised approximately $805 million of gross proceeds from the offering. In addition, the underwriters of the offering have an option to purchase up to an additional 4,350,000 common shares.
The net proceeds will be used as partial consideration to finance the previously announced acquisition of all of the equity interest in Longview Timber LLC. The offering is expected to close on Monday, June 24th, 2013, subject to customary closing conditions.
Concurrently, Weyerhaeuser announced the pricing of the public offering of 12,000,000 6.375% Mandatory Convertible Preference Shares, Series A at $50.00 per share.
The net proceeds will be used as partial consideration to finance the previously announced acquisition of all of the equity interest in Longview Timber LLC. The offering is expected to close on Monday, June 24th, 2013, subject to customary closing conditions.
Concurrently, Weyerhaeuser announced the pricing of the public offering of 12,000,000 6.375% Mandatory Convertible Preference Shares, Series A at $50.00 per share.
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