July 19 (Reuters) - Tembec Inc TMB.TO
* Tembec provides transaction update
* Tembec says no third party made or communicated intention to make alternative deal proposal since announcement of deal with Rayonier Advanced Materials
* Company reiterates reasons for unanimous recommendation of board of directors of tembec to vote for arrangement
* If arrangement with Rayonier Advanced Materials is not approved by Tembec shareholders, Tembec will continue to operate on a stand-alone basis
* If arrangement is not approved by Tembec shareholders, either co or Rayonier AM to be entitled to terminate arrangement agreement at option
* Reiterates that interested parties were provided confidential information, including current and expected financial results