Weyerhauser (WY) raises cash for its Longview Timber purchase, announcing a 28M share secondary...

|By:, SA News Editor

Weyerhauser (WY) raises cash for its Longview Timber purchase, announcing a 28M share secondary and an offering of 10M mandatory convertible preference shares. The offering price for the convertibles is expected to be $50 each and (unless converted earlier) they will automatically convert into common shares in 3 years. The stock's off 1.1% premarket.