Longview Fibre Co., a Longview, Wash.-based timberlands owner and specialty paper manufacturer, has announced a special cash-and-stock distribution to its common shareholders in connection with a plan to convert to a real estate investment trust.In addition to the distribution, valued at $7.54 per share, the company announced an amendment to its senior secured credit agreement to provide for a new $300 million term loan facility, among other things. The special distribution "represents the last significant milestone in our REIT conversion process," said company president Richard H. Wollenberg. Longview can be found online at http://www.longviewfibre.com.
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