July 17 (Reuters) - Oaktree Capital Management:
* proposed deal is result of a flawed sale process
* Oaktree urges Tembec shareholders to vote against proposed acquisition by Rayonier
* Tembec board claim sale to Rayonier is result of "comprehensive sale process is misleading;relies on an apples-to-oranges comparison"
* believes that there is significant value gap that makes proposed transaction unfair to shareholders Source text for Eikon: Further company coverage: