PotlatchDeltic gains on $8.2 billion merger deal with Rayonier

** Shares of U.S. timber company PotlatchDeltic PCH rise nearly 5% to $43.74 premarket

** Rayonier RYN shares down 2.4% at $25.27 premarket

** PCH and RYN to combine in an all-stock deal valued at $8.2 bln, including $1.1 billion of net debt, the companies say

** RYN CEO Mark McHugh to lead the combined company post merger - companies

** PotlatchDeltic shareholders expect to receive 1.7339 shares of Rayonier for each share of PotlatchDeltic

** The transaction is expected to close in late first quarter or early second quarter of 2026

** As of last close, PCH up 6% and RYN down ~1% YTD