WILDLIGHT, Florida. & SPOKANE, Washington — Rayonier and PotlatchDeltic today announced that they have entered into a definitive agreement to combine in an all-stock merger of equals. …The combined company is expected to have a market capitalization of $7.1 billion and a total enterprise value of $8.2 billion. Upon completion of the transaction, the combined company will become the second-largest publicly traded timber and wood products company in North America. …The combined company will operate under a new name, to be announced prior to closing. …Together, the combined company will have a productive and diverse timberland portfolio comprising approximately 4.2 million acres, including 3.2 million acres in the U.S. South and 931,000 acres in the U.S. Northwest. In addition, the company will operate seven wood products manufacturing facilities, including six lumber mills with total capacity of 1.2 billion board feet and one industrial plywood mill. The transaction will also combine two highly complementary and successful real estate businesses.