DOJ OKs Boise bid for GP facilities

Boise, Idaho-based Boise Cascade Company received antitrust clearance from the United States Department of Justice to proceed with its previously announced acquisition of Georgia-Pacific LLC`s engineered lumber production facilities located at Thorsby, Alabama and Roxboro, North Carolina.

The $215 million deal was previously reported in HBSDealer.

The Company plans to complete the acquisition by the end of March 2016.

"There are tremendous opportunities to optimize our mill system and realize freight and other cost synergies," said Tom Corrick, CEO of Boise Cascade, at the time of the announcement late last year. "The acquired mills are located in attractive wood baskets with competitive fiber costs and improve our ability to support high-growth housing demand. We expect the acquisition of Georgia-Pacific`s engineered lumber business to add $40 million to our mid-cycle EBITDA."