PCH stock reflects PotlatchDeltic merger terms with Rayonier

PCH stock, representing former PotlatchDeltic Corporation (ISIN US7376301039) shares, is now tied to a completed cash-and-stock merger with Rayonier Inc., giving investors a mix of cash and new Rayonier shares per PotlatchDeltic share as of early September 2026.

Merger consideration for PCH shareholders

According to corporate actions information compiled by Robinhood on September 5, 2026, PotlatchDeltic Corporation completed a cash and stock merger in which each PCH share is exchanged for USD 0.61 in cash plus 1.8185 shares of Rayonier Inc. (ticker RYN).

This exchange ratio means that for every 100 former PCH shares, investors now hold USD 61.00 in cash and 181.85 Rayonier shares, before any adjustments for fractional shares. The same source notes that fractional shares arising from the merger are included within investors’ total Rayonier positions, rather than paid out separately in cash.

Context for PCH and PotlatchDeltic fundamentals

PotlatchDeltic Corporation historically operated as a timberland real estate investment trust with integrated wood products manufacturing, generating revenue and cash flow from lumber, panels, and related forest products. Its financial profile before the merger included reported free cash flow figures for recent quarters. Data compiled by Stock Titan shows PotlatchDeltic’s latest free cash flow series through Q3 fiscal year 2025, which ended on September 30, 2025.

For investors evaluating the merger economics, the combination of a fixed cash amount of USD 0.61 per share and 1.8185 Rayonier shares per PCH share effectively shifts their timber REIT exposure from PotlatchDeltic to Rayonier, while crystallizing a modest cash component. Compared with a hypothetical scenario of a pure share-for-share deal, the added cash portion slightly reduces future exposure to equity market volatility and provides immediate liquidity that can be redeployed.

DACH perspective and comparison angle

From a DACH investor perspective, the PotlatchDeltic-Rayonyier transaction sits in the same broad listed timber and materials universe as peers such as Louisiana-Pacific and other North American building materials names that are often followed by European investors via US listings. While the merger consideration for PCH shareholders is fixed at USD 0.61 plus 1.8185 Rayonier shares per PotlatchDeltic share, other timber and building products companies remain exposed to cyclical swings in housing activity and construction demand without such corporate action-driven re-rating.

The quantified comparison within the merger terms is clear: each former PCH share converts into nearly twice the number of Rayonier shares (1.8185 per PCH share) plus a small cash top-up of USD 0.61, which together define the economic stake that prior PotlatchDeltic shareholders now hold in Rayonier.

Representative product and business focus

As a representative example of PotlatchDeltic’s traditional business, the company’s operations have included production of lumber used in residential and commercial construction in the United States, a key downstream product of its timberland base. This lumber output has historically tied PotlatchDeltic’s earnings and cash flow to the housing cycle and construction spending, which now, through the merger, contributes to the broader portfolio of Rayonier’s timber and land management activities.

Stock and investor angle after the merger

With the cash-and-stock merger consideration of USD 0.61 plus 1.8185 Rayonier shares for each PCH share documented as of September 5, 2026, PCH stock has effectively transitioned from representing an independent PotlatchDeltic equity position to symbolizing completed corporate action terms that allocate cash and Rayonier equity to former PotlatchDeltic shareholders.