LP-Ainsworth deal subject to new timing agreements

The pending deal between Ainsworth Lumber and Louisiana-Pacific has been put off further by new timing agreements with the Canadian Competition Bureau and the Antitrust Division of the U.S. Department of Justice.

Ainsworth and LP have both agreed that they will not consummate the acquisition before March 13, giving federal regulators time to continue their reviews. As a result, the companies have extended the outside date for completion from March 4 to April 18.

The waiting period for LP's acquisition of Ainsworth had been extended in November after the DOJ requested additional information from the companies.

The $1.1 billion deal, aimed at leveraging Ainsworth's resources and access to international growth markets at a critical period in the housing recovery, had been announced in September 2013.

Login or Register to post a comment.