Integrated Tree Cropping, hoping to become a dominant forestry industry player, announced an off-market takeover of Australian Plantation Timber yesterday.

ITC, which holds 49.87 per cent of APT, will offer one share for every six APT shares, or 23 ¢ cash, a premium to the previous close of 21.5 ¢. The offer values APT at $18.25 million.