Louisiana Pacific Corporation Agrees to Acquire Ainsworth Lumber Co. Ltd. for US$1.1 Billion
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Goodmans represents Ainsworth Lumber Co. Ltd. in connection with its proposed acquisition by Louisiana-Pacific Corporation. On September 4, 2013, Louisiana-Pacific and Ainsworth announced that they signed a definitive agreement under which Louisiana-Pacific will acquire all of the outstanding common shares of Ainsworth for a total consideration which equates to C$3.76 per Ainsworth common share. The proposed transaction, with a total value of approximately US$1.1 billion, has the unanimous support of the Ainsworth Board of Directors, together with Ainsworth’s largest shareholder group, the private equity funds managed by Brookfield Asset Management Inc. (the Brookfield Funds) that own 54% of Ainsworth, which has entered into an agreement to vote in favor of the transaction. Subject to obtaining the necessary approvals, the transaction is expected to close by the end of 2013.
Ainsworth Lumber Co. Ltd. is a leading manufacturer and marketer of oriented strand board with a focus on value-added specialty products for markets in North America and Asia.
Louisiana-Pacific Corporation is a leading manufacturer of quality engineered wood building materials including OSB, structural framing products, and exterior siding for use in residential, industrial and light commercial construction.
Brookfield Private Equity Funds are managed by Brookfield Asset Management, a global alternative asset management company focused on property, power and infrastructure assets.