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CatchMark Timber mulls all-stock acquisition of Phaunos Timber

CatchMark Timber Trust Inc. is exploring a potential all-stock acquisition of Phaunos Timber Fund Ltd., which could result in combined company with an enterprise value of $1.3 billion.

The offer, which values Phaunos at 57 cents per share, will be paid in new shares of CatchMark class A common stock.

More details to follow...