Deltic Timber, a natural resources company, provided an update on its previously announced strategic alternatives process. The company said it is assessing a range of strategic alternatives.
Deltic said over the past several months, it has been approached by industry participants regarding interest in a potential strategic transaction. The company has been evaluating those confidential indications of interest and said it 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. Davis Polk & Wardwell LLP is serving as Deltic’s legal advisor, and Goldman Sachs & Co. LLC is serving as financial advisor.