Deltic Timber Corporation is assessing a comprehensive range of strategic alternatives. According to the announcement, over the past several months, the company has been approached by a number of industry participants regarding interest in a potential strategic transaction. It has been actively engaged in evaluating those confidential indications of interest and intends to continue the process to develop potential external strategic alternatives.
The company has not set a timetable for completion of its strategic alternatives process and there can be no assurance of any given specific outcome.
Davis Polk & Wardwell LLP is serving as Deltic’s legal advisor, and Goldman Sachs & Co. LLC is serving as financial advisor.
In 2Q2017 Deltic Timber Corporation decreased operating income to USD 6.3 million.
Earlier Deltic Timber’s President and CEO steped down.
About Deltic Timber Corporation:
The company is a natural resources company focused on the efficient and environmentally responsible management of its land holdings. It owns approximately 530,000 acres of timberland, operates two sawmills and a medium density fiber-board plant. It is engaged in real estate development. Headquartered in El Dorado, Arkansas, the Company’s operations are located primarily in Arkansas and north Louisiana.