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© Louisiana-Pacific

Louisiana-Pacific backs away from takeover deal

Article by Robert Spannlang, edited for Timber-online | 16.05.2014 - 09:41

Too many asset sales of Ainsworth Lumber demanded by regulators

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© Louisiana-Pacific

The planned Louisiana-Pacific (LP) takeover of Canadian OSB-producer Ainsworth Lumber is finally falling apart as the US-Americans are backing away blaming the split on demands for more asset sales from Canadian and US regulators, the companies said.

Tennessee-based LP had announced last September it would buy its Canadian competitor for about US-$ 1.1 billion, including debt, in a push to expand into Asia and other international markets, reuters.com reports. LP had already indicated that increasing disposals might have involved renegotiation of the value of the deal. The proposed takeover would have given the combined firm a 63% share of the OSB-market in the US-Northwest.

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