Brookfield completes $763 mln merger of Ainsworth and Norbord
The combination of Ainsworth Lumber Co Ltd (TSX: ANS) and Norbord Inc (TSX: NBD), portfolio companies of Brookfield Asset Management, has been finalized. When first announced in December 2014, the transaction was said to have a value of $762.6 million. With the deal's closing, the Vancouver-based Ainsworth will be de-listed from the Toronto Stock Exchange and will become a subsidiary of the Toronto-based Norbord. Norbord said the merger establishes it as a leading global wood products company with more than US$1.6 billion in sales in 2014. Last year, a planned sale of Ainsworth to Louisiana-Pacific Corp was terminated due to regulatory conflicts.
1 April 2015•4 mins read
