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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Pope Resources, A Delaware Limited Partnership (“Pope Resources”) (NASDAQ: POPE) to Rayonier Inc. (“Rayonier”) (NYSE: RYN). Under the terms of the merger, Pope Resources unitholders will have the right to elect to receive (i) 3.929 common shares of Rayonier, (ii) 3.929 units of Rayonier Operating Partnership LP, or (iii) $125 in cash in exchange for each unit of Pope Resources, subject to a proration mechanism.
The Pope Resources merger investigation concerns whether the Board of Pope Resources breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Rayonier is underpaying for Pope Resources shares, thus unlawfully harming Pope Resources shareholders.
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