Norbord and Ainsworth Provide Update on Merger and Closing

 Tuesday, March 17, 2015

Norbord Inc. and Ainsworth Lumber Co. ltd today announced that they have been informed by the Antitrust Division of the United States Department of Justice that it has closed its review of the previously announced combination of Norbord and Ainsworth. Norbord and Ainsworth expect the transaction to be completed on March 31, 2015.
On December 8, 2014, Norbord and Ainsworth announced that they had entered into an arrangement agreement under which Norbord and Ainsworth would merge to create a leading product wood product company focused on oriented strand board (OSB) across North America, Europe and Asia. Under the terms of transaction, Norbord will acquire all of the outstanding common shares of Ainsworth in an all- share transaction. Ainsworth shareholder will receive 0.1321of a share of Norbord for each Ainsworth share.
On January 27, 2015, the transaction was overwhelmingly approved by the shareholders of each of Norbord and Ainsworth. On January 30, 2015, the Supreme Court of British Columbia granted a final order approving the combination of Norbord and Ainsworth by way of a plan of arrangement under the Business Corporations Act (British Columbia).

Tags: Ainsworth, norbord