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Wed, May. 14, 2:42 PM
- Louisiana-Pacific (LPX -2.6%) and Ainsworth Lumber (ANSBF -15.5%) say they are terminating their planned combination.
- LPX had warned last week of a potential legal fight with the U.S. Justice Department and Canada's antitrust regulator over required divestitures to complete the deal.
- The companies say they mutually agreed to end the deal and that no breakup fee will be payable by either party.
Thu, May. 8, 6:52 PM
- Louisiana-Pacific (LPX) took an afternoon dive when CEO Curtis Stevens said in today's earnings call that it may face a legal fight with U.S. and Canadian regulators over its planned $1.1B purchase of Ainsworth Lumber (ANSBF).
- The companies are at odds with the U.S. Justice Department and Canada's antitrust regulator over required divestitures to complete the transaction, according to Stevens.
- Analysts are saying the regulators are most concerned the companies would have too much pricing power in western Canada because of their large market share in the region; TD Securities estimates the combined entity would control ~51% of oriented strand board production capacity in that area.
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