Norbord And Ainsworth Lumber Provide Update On Merger And Closing
Norbord Inc. and Ainsworth Lumber Co. Ltd. today announced that they have been informed by the Antitrust Division of the United States Department of Justice that it has closed its review of the previously announced combination of Norbord and Ainsworth. Norbord and Ainsworth expect the transaction to be completed on March 31, 2015.
On December 8, 2014, Norbord and Ainsworth announced that they had entered into an arrangement agreement under which Norbord and Ainsworth would merge to create a leading global wood products company focused on oriented strand board (OSB) across North America, Europe and Asia.
Under the terms of the transaction, Norbord will acquire all of the outstanding common shares of Ainsworth in an all-share transaction. Ainsworth shareholders will receive 0.1321 of a share of Norbord for each Ainsworth share.
On January 27, 2015, the transaction was overwhelmingly approved by the shareholders of each of Norbord and Ainsworth. On January 30, 2015, the Supreme Court of British Columbia granted a final order approving the combination of Norbord and Ainsworth by way of a plan of arrangement under the Business Corporations Act (British Columbia).
RELATED ARTICLES
WEST FRASER PURCHASES NORBORD FOR $3 BILLION
Latest News
The Show(s) Must Go On!
Article by Rich Donnell, Editor-In-Chief, Panel World September 2022 – If you think the pandemic caused the death of live trade shows, think again. Just take one quick browse through the Panel World September 2022 issue. In fact, trade shows almost snowballed us over this month…
Saariaho To Start As President & CEO Of Raute Corp. On October 1
Mika Saariaho’s starting date as President and CEO of Raute Corp. has been specified. He will start in the position on October 1, 2022. On May 24, 2022, Raute announced Saariaho’s appointment and that he will assume his position at the latest on November 24, 2022…
LP Goes With Biele For Manitoba Shake Line
Louisiana Pacific and Biele Group have successfully implemented their first project—a shake profile production line in Swan Valley, Manitoba, Canada. This investment is part of the company’s expansion plans for siding products within their LP SmartSide…
Find Us On Social
Newsletter
The monthly Panel World Industry Newsletter reaches over 3,000 who represent primary panel production operations.
Subscribe/Renew
Panel World is delivered six times per year to North American and international professionals, who represent primary panel production operations. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative. Contact us today!