LOUISIANA-PACIFIC CORPORATION (NYSE:LPX) Files An 8-K Other Events
Item 8.01. Other Events.
As previously announced, the Board of Directors of Louisiana-Pacific Corporation (“LP”) has authorized an additional share repurchase plan under which the Company may repurchase up to $600 million of its common stock. As part of the repurchase plan, on February 19, 2019, LP entered into an accelerated share repurchase (“ASR”) agreement with Goldman Sachs & Co. LLC to repurchase $400 million of its common stock. Under the ASR agreement, LP will receive an initial delivery of 11,944,756 million shares on February 21, 2019, representing approximately 80 percent of the number of shares of common stock initially underlying the ASR agreement, based on the closing price of LP’s common stock of $26.79 on February 15, 2019. The final number of shares to be repurchased will be based on LP’s volume-weighted average price of LP’s common stock during the term of the transaction, less a discount, and is expected to be completed no later than the end of the third quarter of 2019. A copy of LP’s press release announcing the ASR is attached as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Description
LOUISIANA-PACIFIC CORP Exhibit
EX-99.1 2 pressrelease2192019.htm EXHIBIT 99.1 – PRESS RELEASE Exhibit Exhibit 99.1LP Announces $400 Million Accelerated Share RepurchaseAgreement is part of the company’s capital return programNASHVILLE,…
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About LOUISIANA-PACIFIC CORPORATION (NYSE:LPX)
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America. The OSB segment includes OSB products produced in North America. The siding segment includes Smart Side siding products, CanExel siding products and other related products. The engineered wood products segment includes laminated veneer lumber and laminated strand lumber, I-joists, plywood and other related products. The South America segment includes products produced and or sold in South America. Its other products category includes its remaining timber and timberlands, and other minor products, services and closed operations. It also markets and sells its products in light industrial and commercial construction.