Rayonier Advanced Materials announces strategic alternatives review

Rayonier Advanced Materials (RYAM) announced that the Company is engaged in a formal process to explore strategic alternatives to maximize shareholder value. In connection with the strategic alternatives review, the Company has engaged Morgan Stanley & Co. as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal counsel. The strategic review will consider a range of potential strategic, business and financial alternatives, which may include, among other things, a sale of all or part of the Company, a strategic investment, a merger or other business combination, or other strategic or financial alternatives, as well as continuing to execute on the Company’s standalone strategic plan. The Board remains confident that its approach-which is grounded in disciplined governance, transparency, and a commitment to sustainable value creation-is in the best interests of stockholders, customers, employees and all stakeholders. The Board has not set a timetable for completion of the strategic review and does not intend to provide updates unless and until it is determined that disclosure is appropriate or required by law. There can be no assurance that the strategic alternatives review process will result in any transaction or other strategic change.