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