TORONTO - Brookfield Asset Management Inc. (TSX:BAM.A), a major Canadian investor in the real estate, power and resource sectors, is selling its Longview forestry assets in the U.S. Pacific Northwest through deals totalling nearly $3.7 billion. The Toronto-based company acquired the Longview assets in 2007 as one business and has since separated the timberlands from the manufacturing businesses. Weyerhaeuser Co. (NYSE:WY), a major North American lumber producer based in the state of Washington, will acquire Brookfield's Longview Timber for $2.65 billion, including debt.

By Kim Eun-jung SEOUL, June 17 (Yonhap) -- American aerospace giant Lockheed Martin on Monday promised to support South Korea's effort to develop and launch military communications satellites if it wins Seoul's multi-billion dollar fighter jet deal. Lockheed Martin announced the offer as Seoul is set to start the bidding process on Tuesday to pick a contractor as early as early next month to provide the country with 60 advanced fighter jets for 8.3 trillion won (US$7.3 billion).

(Reuters) - Weyerhaeuser Co <WY.N> said its board had elected Doyle Simons president and chief executive officer, effective August 1, and announced plans to spend $2.65 billion for a big timber parcel and plans to review strategic options for its homebuilding unit.

BOISE, Idaho - Farmers in Idaho have filed a potentially class action lawsuit against seed giant Monsanto after genetically engineered wheat was found in an eastern Oregon field. The farmers, represented by a Boise law firm, filed the federal lawsuit Friday contending that Monsanto's development of Roundup Ready wheat resulted in increased production costs and lowered prices because the genetically engineered wheat is likely to infiltrate the non-genetically engineered wheat supply.