LP-Ainsworth deal gets more scrutiny
The U.S. Department of Justice extended the waiting period for Louisiana-Pacific Corp.'s planned acquisition of Ainsworth Lumber Co., requesting additional information from the two companies.
Once they've complied with the request, which were issued under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the companies will have to wait 30 days before the transaction closes. The antitrust waiting period may change if the companies voluntarily extend it, or if the Department of Justice terminates it earlier.
LP announced the $1.1 billion deal in September. CEO Curt Stevens said the deal will help LP make the most of the housing recovery by leveraging Ainsworth's resources and access to international growth markets.
Pending U.S. and Canadian regulatory approval, the transaction is slated to close in the first quarter of 2014.