Brookfield's Ainsworth, Norbord to merge in $762.6 mln deal
Ainsworth Lumber Co Ltd (TSX: ANS) has agreed to merge with Norbord Inc (TSX: NBD) in a deal valued at $762.6 million. Brookfield Asset Management, the majority owner of both Canadian companies, has committed to vote in favour of the transaction, which when completed will see it own around 53 percent of the new entity. Minority investor approval will be sought at special meetings to be held in January 2015. Ainsworth and Norbord said the deal will create a leading global wood products business focused on oriented strand board. Earlier this year, a planned US$1.1 billion sale of Ainsworth to Louisiana-Pacific Corp was cancelled due to conflicts with regulatory authorities about required divestitures.
8 December 2014•10 mins read
