Ainsworth Lumber and Norbord Inc. announced that the Supreme Court of British Columbia has granted a final order approving the previously announced proposed combination of Norbord and Ainsworth by way of a plan of arrangement under the Business Corporations Act (British Columbia).

Supreme Court of British Columbia approves proposed combination of Norbord and Ainsworth

18:58 / January 30, 2015

Jan 31, 2015. /Lesprom Network/. Ainsworth Lumber and Norbord Inc. announced that the Supreme Court of British Columbia has granted a final order approving the previously announced proposed combination of Norbord and Ainsworth by way of a plan of arrangement under the Business Corporations Act (British Columbia).

The transaction remains subject to customary conditions to closing. As previously announced, Norbord and Ainsworth are providing the U.S. Department of Justice (the "DOJ") with the information it has requested about the transaction and are working proactively with the DOJ to ensure an expedited review process. Subject to the satisfaction or waiver of all closing conditions, the transaction is expected to close by the end of the 1Q 2015.

Norbord Inc. is an international producer of wood-based panels. Norbord is one of the world's largest producers of oriented strand board (OSB).

Ainsworth Lumber Co. Ltd. is a leading manufacturer and marketer of OSB with a focus on value-added specialty products for markets in North America and Asia.

Lesprom Network

Supreme Court of British Columbia approves proposed combination of Norbord and Ainsworth

Tags

Topics

Markets

Interesting to see