PR Newswire
NEW YORK, Oct. 24, 2017
NEW YORK, Oct. 24, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Deltic Timber
Corporation ("DEL" or the "Company") (NYSE: DEL) in connection with the proposed acquisition of the Company by Potlatch
Corporation ("PCH") (NASDAQ: PCH). Under the terms of the acquisition agreement, the Company's shareholders will receive
1.80 common shares of PCH for each DEL share they own, representing consideration of $92.25 based
on PCH's October 24 closing price.
WeissLaw is investigating whether DEL's Board acted to maximize shareholder value prior to entering into the agreement.
Notably, the per-share consideration offers virtually no premium over the Company's October 20
closing price. In addition, the transaction is a lopsided agreement that favors the interests of PCH and its
shareholders. This is a point further highlighted by PCH's Chairman and CEO when he underscored some of the benefits his
company will gain through this transaction, specifically:
- Significant gains in scale through DEL's 933,000 acres in Arkansas;
- Substantial expansion in sawmill capacity; and
- Robust financial profile with strong growth facilitated by the newly-combined company's gains in scale.
Finally, upon completion of the transaction, DEL shareholders will own a measly 35% of the combined company.
Given these facts, WeissLaw is investigating whether DEL's shareholders will obtain their fair and proportionate share of the
Company's continued success and future growth prospects. If you own DEL shares and would like more information about your
rights or our investigation, or if you have information to share with us, please contact Joshua
Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com .
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief
in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email
us at stockinfo@weisslawllp.com or fill out the form on our
website, http://www.weisslawllp.com/deltic-timber-corporation/
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SOURCE WeissLaw LLP