LP-Ainsworth deal gets more scrutiny
The U.S. Department of Justice extended the waiting period for Louisiana-Pacific Corp.’s planned acquisition of Ainsworth Lumber Co., requesting additional information from the two companies.
Once they’ve complied with the request, which were issued under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the companies will have to wait 30 days before the transaction closes. The antitrust waiting period may change if the companies voluntarily extend it, or if the Department of Justice terminates it earlier.
LP announced the $1.1 billion deal in September. CEO Curt Stevens said the deal will help LP make the most of the housing recovery by leveraging Ainsworth’s resources and access to international growth markets.
Pending U.S. and Canadian regulatory approval, the transaction is slated to close in the first quarter of 2014.
3M addresses holiday decorating
3M is introducing a new series of outdoor decorating solutions via its Command Brand product lineup, a departure for the usually indoors-oriented brand.
“Every holiday season, Command Brand Products help homeowners transform the inside of their homes with festive decorations,” says Kate Semersky, Command Brand business unit manager. “With the addition of Command Outdoor Products, we will empower homeowners to expand their creativity on the exterior of their homes as well.”
The collection of Command Outdoor Products will include damage-free window hooks, decorative hooks and light clips that are designed to hold up in the rain, snow, and in extreme temperatures (from -20F up to 125F).
3M is also teaming up with YouTube celebrity John Storms, who is internet-famous for his extravagant lighting displays, to bring customers some expert tips on holiday decorating. His how-to video can be found on the Command website.
The Tile Shop expands into Oklahoma
The Tile Shop is opening a new store in Tulsa, which will mark its first retail location in the state of Oklahoma.
“Tulsa homeowners take great pride in their homes," said Carl Randazzo, SVP of retail for The Tile Shop. "They want to surround themselves with natural beauty. We make the process of discovering the stone and tile that’s right for your home as easy as possible with beautiful products incredibly presented, sold by sales associates who are trained to carefully listen to our homeowner customers.”
Customers at the 19,100-sq.-ft. Union Plaza Shopping Center location will be privy to over 2,000 natural stone and tile varieties, as well as a free, hour-long DIY tiling workshop every Saturday morning. As is customary to Tile Shop locations, the store will also feature a showcase of fully decorated vignettes with real appliances, lighting and plumbing fixtures.
The Tulsa store is the 15th new store opened this year for The Tile Shop, which plans to open five more by the end of the year. At the moment, the retailer operates 85 stores throughout 24 states.