Louisiana Pacific Building Products company said Wednesday that it was for $ 110 million U.S. dollars, a figure Ainsworth's debt, including the assumption purchase Ainsworth Timber Co. in Canada.
Purchase price per share of $ 3.76 ($ 3.57 per share). The agreement marks the Ainsworth's Tuesday closing price of CA $ 2.89 ($ 2.75), a 30% premium.
The transaction has the unanimous support of the board Ainsworth. Brookfield Asset Management, which owns 54% of shares Ainsworth, managing private equity fund agreed to vote in favor of the transaction.
Ainsworth is a leading manufacturer of OSB, with an annual capacity of 2.5 one billion square feet, if a plant in northern Alberta to expand, can be expanded to 3.1 one billion square feet.
Louisiana Pacific CEO Curt Stevens said the acquisition will help the company to benefit more from the housing recovery.
Buy from approximately 52% in cash and 48%, Louisiana Pacific common stock. Following the transaction, funds managed by the Brookfield will have Louisiana - Pacific Ocean about 9% of the shares.
Louisiana - Pacific said it will cash on hand and borrowings Ainsworth books combined with the new funding transactions. It has gained a Goldman Sachs and BMO Capital Markets senior secured term loan commitments.
The transaction is expected to close by the end of the year.
Louisiana - Pacific shares rose 74 cents, or 4.9 percent, to $ 16.01 after-market trading, after the deal was announced.
 



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