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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Cellu Tissue Holdings, Inc.

^{Published on 2010-09-16 17:40:45 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Cellu Tissue Holdings, Inc. (aCellu Tissue Holdingsa or the aCompanya) (NYSE:CLU) related to the Companya™s agreement to be acquired by Clearwater Paper Corporation (aClearwatera). The proposed all-cash transaction is valued at approximately $502 million, including assumed debt.

Under the terms of the definitive merger agreement entered into by the parties, Clearwater will pay Cellu Tissue Holdings shareholders $12.00 in cash for each share of the Companya™s common stock they own. The proposed transaction has been unanimously approved by the Companya™s board of directors. The transaction is expected to be completed in the fourth quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Cellu Tissue Holdingsa™ board of directors.

If you are a shareholder of Cellu Tissue Holdings, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].