Corporate Change Leads to Forest Sale ; State, Partners Seek to Buy Land From Dayton-Based Firm

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DAYTON -- The Ohio Department of Natural Resources is uniting with like-minded conservation partners in an effort to buy and return to state management the 16,000-acre Raccoon Ecological Management Area in Vinton County, a tract that's for sale with the ongoing reorganization of the former MeadWestvaco paper group.

The land is part of 150,000 acres for sale in Ohio owned by Dayton-based Escanaba Timber LLC, which is owned by New York City hedge fund Cerberus Capital Management L.P. In all, Escanaba is selling 260,000 acres it owns in Ohio, Kentucky, Tennessee, Missouri and Illiniois.

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Corporate Change Leads to Forest Sale ; State, Partners Seek to Buy Land From Dayton-Based Firm

If all its acreage sells, the company will put itself out of business, said Brad Homeier, chief operating officer for Escanaba. "If we conclude the sale of all our acreage, that would be true," he said Thursday. Ce...

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