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Potlatch to buy Deltic Timber in all-stock deal

Oct 23 (Reuters) - U.S. forest products company Potlatch Corp confirmed on Monday it would buy smaller peer Deltic Timber Corp in an all-stock transaction.

Potlatch's offer values Deltic at $95.4 per share, representing a premium of about 7 percent.

The equity value of the offer is about $1.16 billion, based on 12.1 million Deltic's diluted shares outstanding as of June 30.

Reuters had reported the deal on Sunday. (Reporting by Arunima Banerjee in Bengaluru; Editing by Bernard Orr)