Key Developments: Louisiana-Pacific Corp (LPX.N)

LPX.N on New York Stock Exchange

16.74USD
24 Dec 2014
Price Change (% chg)

$0.27 (+1.64%)
Prev Close
$16.47
Open
$16.49
Day's High
$16.91
Day's Low
$16.46
Volume
167,333
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762,827
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$18.95
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Latest Key Developments (Source: Significant Developments)

Louisiana-Pacific Corp and Ainsworth announces termination of agreement
Wednesday, 14 May 2014 12:58pm EDT 

Louisiana-Pacific Corp:Terminating their previously announced agreement with Ainsworth Lumber Co. Ltd dated.In which Louisiana-Pacific corp (LP) would acquire all of outstanding common shares of Ainsworth.LP and Ainsworth have determined that regulatory approvals cannot be obtained without divestitures significantly beyond those contemplated in Arrangement Agreement without engaging in lengthy and expensive litigation with the regulatory authorities in the US and Canada.LP and Ainsworth mutually agreed to terminate the agreement under these conditions.According to the terms of Arrangement Agreement, no termination fee will be payable by either party.  Full Article

Louisiana-Pacific Corp and Ainsworth Lumber Co Ltd agree to extend outside date for completion of plan of arrangement
Friday, 18 Apr 2014 11:00am EDT 

Louisiana-Pacific Corp and Ainsworth Lumber Co. Ltd:Says they have agreed to extend the outside date for completion of the previously announced plan of arrangement involving the proposed acquisition by LP of all the outstanding common shares of Ainsworth, from April 18 to June 2.Extension comes as a result of continued discussions with each of the Canadian Competition Bureau and the Antitrust Division of the U.S. Department of Justice as both Ainsworth and LP continue to work with the CCB and the DOJ as they conduct their reviews.Arrangement agreement permits either party to further extend the outside date for an additional 45 day period if required to obtain certain regulatory approvals.  Full Article

Louisiana-Pacific Corp Announces Acquisition Of Ainsworth Lumber Co Ltd
Wednesday, 4 Sep 2013 04:15pm EDT 

Louisiana-Pacific Corp (LP) and Ainsworth Lumber Co. Ltd. announced that they have signed a definitive agreement under which LP will acquire all of the outstanding common shares of Ainsworth for a total consideration which equates to CAD3.76 per Ainsworth common share, based on the closing price of LP common shares on September 3, 2013. The proposed transaction, which has a total value of approximately USD1.1 billion, including the assumption of debt less Ainsworth`s estimated cash balance, represents a premium for Ainsworth shareholders of 30% relative to the closing price of Ainsworth shares of C$2.89 and 24% to the volume weighted average trading price of Ainsworth shares on the TSX over the past 20 trading days as of September 3, 2013. The proposed transaction has the unanimous support of the Ainsworth Board of Directors. Additionally, private equity funds managed by Brookfield Asset Management Inc., (the Brookfield Funds) which own 54% of Ainsworth, have entered into an agreement to vote in favor of the transaction. LP`s financial advisers are Goldman, Sachs & Co. and BMO Capital Markets. Its legal advisers are Jones Day, Stikeman Elliott LLP, and Orrick, Herrington & Sutcliffe LLP. Ainsworth`s financial adviser is RBC Capital Markets and its legal advisers are Goodmans LLP and Skadden, Arps, Slate, Meagher & Flom LLP.  Full Article

Canfor Corp Announces Completion of Sale of Peace Valley OSB Joint Venture to Louisiana-Pacific Corp
Friday, 31 May 2013 12:50pm EDT 

Canfor Corp announced that further to its news release of November 28, 2012, it has completed the sale of its 50% interest in the Peace Valley Oriented Strand Board (OSB) joint venture in Fort St. John, B.C., to Louisiana-Pacific Corp (LP). LP is now the sole owner of the Peace Valley OSB mill. The proceeds of the sale are $77 million including working capital. In addition, Canfor will receive further consideration over a 3 year period based on Peace Valley OSB trailing twelve month EBITDA.  Full Article

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