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Wood panel maker Norbord to buy Ainsworth Lumber

(Reuters) - Canadian wood panel maker Norbord Inc will buy Ainsworth Lumber Co Ltd in an all-stock deal valued at C$762.6 million ($666.6 million).

Ainsworth shareholders will receive 0.1321 of a Norbord share for each Ainsworth share held, the companies said on Monday.

The deal value of C$3.16 per share represents a 6 percent premium to Ainsworth’s closing share price on Friday.

Reporting by Ashutosh Pandey in Bengaluru

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