Weyerhaeuser attracts interest for house-construction unit

|About: Weyerhaeuser Co. (WY)|By:, SA News Editor

Weyerhaeuser (WY) has reportedly received preliminary expressions of interest for its home-building unit from unnamed suitors. The timber conglomerate said in June that it was evaluating the options for the business, which is valued at over $3B.

Most of the biggest house builders in the country are expected to look at buying the operations, attracted by the thousands of lots it owns that are ready or close to ready for construction, especially in California.

"It's going to move the needle for most builders," says Florida-based consultant Michael Kahn.