The leaders of Louisiana-Pacific and Ainsworth Lumber have agreed to extend to June 2 today's deadline to obtain regulatory approval of their planned $1.1 billion combination. The companies say their extension is the result of "continued discussions" with the Canadian Competition Bureau and the Antitrust Division of the U.S. Department of Justice. Either company can add another 45 days to the deal's timeline if needed.
Shares of LP (Ticker: LPX) are down about 1 percent this afternoon to $15.25. Investors appear to be expecting not-so-good news about the Ainsworth acquisition and have pushed the stock down nearly 20 percent since the beginning of March.