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Monday, December 8, 2014

Wood panel maker Norbord to purchase Ainsworth Lumber, (TSE: ANS.TO), (TSE: NBD.TO)

Canadian wood panel maker Norbord Inc will purchase 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.($1 = 1.1440 Canadian dollars)

Ainsworth Lumber Co. Ltd. (Ainsworth) is a Canada-based manufacturer and supplier of oriented strand board (OSB) with a focus on value-added specialty products for markets in North America and Asia. Shares of ANS traded higher by 6.81% or $0.19/share to $2.98. In the past year, the shares have traded as low as $2.24 and as high as $4.22. On average, 241135 shares of ANS.TO exchange hands on a given day and today's volume is recorded at 1075413.

Norbord Inc. is an international producer of wood-based panels with 13 plant locations in the United States, Europe and Canada. Shares of NBD traded higher by 3.19% or $0.74/share to $23.96. In the past year, the shares have traded as low as $20.14 and as high as $34.24. On average, 178379 shares of NBD.TO exchange hands on a given day and today's volume is recorded at 216720.



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