Sumitomo Forestry Co., Ltd. announced that its Board of Directors has agreed to acquire 100% of the shares of Teal Jones Louisiana Holdings LLC (TJLH) through its wholly owned subsidiary Sumitomo Forestry America, Inc. (SFAM) and will begin the procedures to make TJLH a consolidated subsidiary. The acquisition will be carried out in accordance with procedures outlined under the Companies’ Creditors Arrangement Act of Canada and Chapter 15 of the US Bankruptcy Code. It is subject to approval by the courts of Canada and the United States. Following the completion of all due diligence, SFAM hopes to complete ...