ATLANTA (October 31, 2005) – Sutherland Asbill & Brennan LLP is representing Heartwood Forestland Fund V, L.P., an affiliate of The Forestland Group, LLC ("TFG") in the acquisition of privately held REIT Anderson-Tully Company ("ATCO").
The unanimously approved agreement, announced October 5, results in TFG's acquiring all of the outstanding shares of ATCO for approximately $500,000 per common share in cash, implying an enterprise value for the Company of approximately $465 million.
The multi-practice Sutherland team was led by Partners Victor Haley (Real Estate), Tom Herman (Corporate), and Danny McKeithen (Tax), and included Partners Ed Kallal (Corporate), Alice Murtos (Tax), and Randy Quintrell (Litigation); as well as Counsel Rob Smith (Tax); and Associates David Zimmerman (Corporate), Quito Anderson (Real Estate), Elizabeth Howard (Real Estate), and Amanda Wilson (Tax).
The Forestland Group invests university endowment and foundation funds in hardwood timberlands and presently owns 1.8 million acres. ATCO owns 300,000 acres of timberland and related conversion facilities in Mississippi, Louisiana, Arkansas and Tennessee.
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