Louisiana-Pacific To Pay $1.1B For Canadian Lumber Co.

Law360, New York (September 5, 2013, 1:12 PM EDT) -- Tennessee wood and construction materials company Louisiana-Pacific Corp. has reached an agreement to acquire private equity-backed Ainsworth Lumber Co. Ltd. for $1.1 billion, the companies announced late Wednesday.

Louisiana-Pacific will pay CA$3.76 (US$3.59) per Ainsworth share, a 30 percent premium to the Vancouver company's closing price on the Toronto Stock Exchange on Tuesday. The deal includes the assumption of Ainsworth's debt, Louisiana-Pacific said.

Ainsworth's board of directors have unanimously approved the proposed deal. And private equity funds managed by Brookfield Asset Management Inc., which owns 54...
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