For the second time this month, there is talk of a merger that may eliminate a corporate headquarters only a few years after it was lured to Nashville.
Building products maker Louisiana-Pacific Corp. has seen a sharp spike in share price and volume today on speculation that either forest-products giant Weyerhaeuser Co. or a private equity buyer might make an offer on LP while its stock is in the doldrums. At 1:01, the stock was trading at $20.84, up 6.1 percent, after surging as high as $21.75 earlier in the day. With almost 5.4 million shares changing hands, trading volume was more than four times the stock's daily average.
A takeout of LP, which this year purchased naming rights to the Tennessee Titans' stadium, could mean the loss of another local public-company headquarters after Caremark Rx announced a merger with drugstore chain CVS earlier this month that will make Nashville a subsidiary headquarters.
NashvillePost.com will update this story later today with any further information available about the rumored transaction.