LP-Ainsworth deal blocked over antitrust concerns

After months of regulatory delays, Ainsworth has announced that the planned acquisition of the company by Louisiana-Pacific (LP) has been blocked over antitrust concerns by U.S. and Canadian regulators, pending the sale of additional assets.

In order for the transaction to forward, the companies may need to divest one or more of their existing operations.

"Although LP and Ainsworth continue to explore possible solutions and alternatives, Ainsworth is currently unable to determine whether, when or the terms upon which a transaction may be completed," said the company in a statement.

HCN reported in April that the deadline for the acquisition completion was pushed back a third time to June 2, 2014.

The $1.1 billion deal, which is aimed at strenghening LP's market position by leveraging Ainsworth's access to international growth markets at a critical period in the housing recovery, had been originally announced in September 2013.