Last year, Longview, a real estate investment trust that is in charge of more than 588,000 acres of softwood timberland in the Washington and Oregon areas, turned down a takeover bid of US$1.33bn from the Campbell Group and Obsidian Finance.
But 12 months on, shareholders in the firm have agreed to a sale that will see the thousands of acres of forest under Longview’s control be added to the two million acres of timberland already governed by Brookfield in Brazil and North America.
Brookfield has said that it is planning to split Longview into two operations, with one dealing with the manufacturing output and the other continuing to manage the timberlands.
