Norbord And Ainsworth Lumber Provide Update On Merger And Closing

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 global wood products company focused on oriented strand board (OSB) across North America, Europe and Asia.

Under the terms of the transaction, Norbord will acquire all of the outstanding common shares of Ainsworth in an all-share transaction. Ainsworth shareholders will receive 0.1321 of 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).

Dieffenbacher Acquires Pagnoni

German machine and plant manufacturer Dieffenbacher has acquired the Italian family-owned company Pagnoni Impianti S.r.l., headquartered in Aicurzio, about 30 km northeast of Milan. The company will operate under the new name Pagnoni Dieffenbacher S.r.l.…

European Commission Ruffles U.S. Feathers With New Regulations

The European Commission is proposing that the new EU Deforestation Regulation be delayed 12 months before implementation to allow international parties additional time to prepare. If approved by the European Parliament and the Council, it…

APA Honors Dr. BJ Yeh With 2024 Bronson J. Lewis Award

Dr. Borjen “BJ” Yeh has been named the 2024 Bronson J. Lewis Award honoree. Now in its 19th year, the award recognizes individuals for their leadership and outstanding contributions to the engineered wood industry. Yeh…

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