ATLANTA - Georgia-Pacific moved one step closer to completing its acquisition of Grant Forest Products' oriented strand board facility in Englehart, ON, the associated facility at Earlton, ON, and OSB facilities at Allendale and Clarendon, SC.
Although Georgia-Pacific is still waiting for approval from the Canadian bankruptcy court overseeing Grant's Companies' Creditors Arrangement Act filing, it has now cleared the United States Federal Trade Commission's antitrust review of the transaction. G-P received a letter in February from the Canadian Competition Bureau that similarly stated it found no competitive risk in the acquisition.
Following anticipated U.S. and Canadian bankruptcy court approvals and other regulatory approvals, the transaction is expected to close in the first half of 2010.
Have something to say? Share your thoughts with us in the comments below.