Ainsworth deal needs clarification
Nov. 21, 2013, Vancouver - Ainsworth and Louisiana-Pacific ("LP") have each received a request for additional information from the U.S. Department of Justice ("DOJ") in connection with the previously announced plan of arrangement involving the proposed acquisition by LP of all the outstanding common shares of Ainsworth.
The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Ainsworth and LP have substantially complied with the second request, unless that period is extended voluntarily by the companies or terminated earlier by the DOJ. Ainsworth will continue to cooperate with the DOJ as it conducts its review of the proposed arrangement.
The closing of the arrangement remains subject to a number of conditions, including the expiration or termination of the waiting period under the HSR Act and the receipt of other regulatory approvals and clearances including under the Canadian Competition Act. Subject to obtaining required regulatory approvals and clearances and the satisfaction or waiver of other closing conditions, it is now anticipated that the arrangement will be completed during the first quarter of 2014.