Jun 18 2013
Weyerhaeuser Company today announced that its board of directors has authorized the exploration of strategic alternatives with respect to Weyerhaeuser Real Estate Company (WRECO), Weyerhaeuser’s homebuilding and real estate development business.
The board intends to consider a broad range of alternatives including, but not limited to, continuing to hold and operate WRECO, or a merger, sale or spin-off of the business.
“The board of directors and management team are committed to further enhancing value for all Weyerhaeuser shareholders,” said Dan Fulton, Weyerhaeuser president and chief executive officer. “WRECO is one of the 20 largest homebuilders in the country, with industry-leading margins. Given the improving fundamentals of the housing market, we believe now is a prudent time to explore strategic alternatives for this business. This process will help ensure that WRECO achieves its full potential while we continue to build on Weyerhaeuser’s track record of shareholder value creation.”
The company noted that there can be no assurance that the board’s evaluation process will result in any transaction, or that any transaction, if pursued, will be consummated. The company does not intend to provide any additional information unless or until the evaluation process is completed or terminated.
Conference Call
Weyerhaeuser will hold a live conference call at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) on Monday, June 17, 2013 to discuss the announcement. To access the live webcast and presentation online, go to the Investor Relations section on www.weyerhaeuser.com on June 17. To join the conference call from within North America, dial (866) 610-1072 (access code – 95945025) at least 15 minutes prior to the call. Those calling from outside North America should dial (973) 935-2840 (access code – 95945025). Replays will be available for one week at (800) 585-8367 (access code – 95945025) from within North America and at (404) 537-3406 (access code – 95945025) from outside North America.
Source: http://www.weyerhaeuser.com/