December 8, 2014 / 1:07 PM / 3 years ago

Wood panel maker Norbord to buy Ainsworth Lumber

Dec 8 (Reuters) - Canadian wood panel maker Norbord Inc will buy 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 Reporting by Ashutosh Pandey in Bengaluru

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