An investigation on behalf of investors of Deltic Timber Corp (NYSE:DEL) in connection with the proposed takeover was announced and NYSE:DEL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/30/2017 -- The acquisition of Deltic Timber Corp is under investigation over possible wrongdoing. The investigation was announced for investors in NYSE:DEL shares concerning whether the takeover of Deltic Timber Corp. by Potlatch Corporation is unfair.
Investors who purchased shares of Deltic Timber Corp (NYSE:DEL) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Deltic Timber Corp breached their fiduciary duties owed to NYSE:DEL investors in connection with the proposed acquisition.
On October 23, 2017, Potlatch Corporation (NASDAQ: PCH) and Deltic Timber Corp (NYSE:DEL) announced that they have entered into an agreement to combine in an all-stock transaction and create a leading domestic timberland owner and top-tier lumber manufacturer. The combined company will be named PotlatchDeltic Corporation and its shares will trade on the Nasdaq Stock Market under the ticker PCH. Under the terms of the agreement, Deltic Timber Corp (NYSE:DEL) stockholders will receive 1.80 common shares of Potlatch stock for each common share of Deltic that they own. Based on a closing price of $53.00 per NASDAQ:PCH shares on October 20, 2017, NYSE:DEL investors will receive a value of approximately $95.40 per NYSE:DEL shares they own.
However, the investigation concerns whether the offer is unfair to Deltic Timber Corp (NYSE:DEL stockholders. More specifically, the investigation concerns whether the Deltic Timber Corp (NYSE:DEL Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Deltic Timber Corp (NYSE:DEL) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com