Deltic Timber Corporation issues statement
By Deltic Timber Corporation
Feb. 27, 2017 - Deltic Timber Corporation has issued the following statement in response to the filing made by Southeastern Asset Management, Inc.:
Deltic maintains an open dialogue with all shareholders and values their input. The company has met and spoken with Southeastern on a number of occasions to discuss their ideas and looks forward to continued, constructive dialogue with shareholders focused on enhancing the value of Deltic.
Deltic's strategy is to continue to capitalize on improving housing and wood products markets. The company's assets are well-positioned to benefit from increasing demand for southern yellow pine logs and lumber. Further, its strong balance sheet provides the flexibility to extract maximum value from its timberland, real estate and manufacturing operations.
Deltic's Board of Directors is committed to acting in the best interests of the company and its shareholders, and regularly reviews its strategic priorities and opportunities to enhance value.
Davis Polk & Wardwell LLP is serving as Deltic's legal advisor, and Goldman, Sachs & Co. is serving as financial advisor.