Shareholders of Rayonier Inc. and PotlachDeltic Corp. approved their proposed merger at special meetings Jan. 27, and the two companies expect to complete the merger Jan. 30.
The combined company will retain the Rayonier name for now, but the companies said a new name will be announced later in the first quarter.
The headquarters of the merged company will be in Atlanta. Rayonier is headquartered in Wildlight, in Nassau County, and PotlatchDeltic is headquartered in Spokane, Washington.
Both companies said they expect to retain a significant presence in Wildlight and Spokane.
Rayonier and PotlachDeltic announced the agreement to merge in October through an exchange of stock that valued the combined company’s market capitalization at $7.1 billion.
Current Rayonier shareholders will own 54% of the merged company and Rayonier CEO Mark McHugh will be chief executive.
The company’s stock will continue to trade under Rayonier’s ticker symbol of “RYN,” but a new symbol will be announced when the name change is announced.