Weyerhaeuser Company announced that during a special shareholders meeting held earlier today, its shareholders voted to approve the issuance of Weyerhaeuser common shares in connection with the pending merger with Plum Creek Timber Company.
The results indicate that more than 98 percent of the shares voting at the Weyerhaeuser special meeting voted in favor of the proposal.
As previously announced, on Nov. 6, 2015, Weyerhaeuser and Plum Creek entered into a merger agreement. On the terms and subject to the conditions set forth in the merger agreement, Plum Creek will merge with and into Weyerhaeuser, with Weyerhaeuser continuing as the surviving corporation in the merger. At the time the merger becomes effective, each share of Plum Creek common stock issued and outstanding immediately prior to the effective time will be converted into the right to receive 1.60 Weyerhaeuser common shares.