Norbord Books Another Solid Quarter and Announces Mill Exchange With Louisiana Pacific
Norbord's third-quarter results lined up nicely with our expectations, despite unplanned downtime in Europe. Management also announced an asset swap in which the firm received an OSB mill in Chambord, Quebec, from Louisiana Pacific in exchange for Norbord's Val-d'Or mill. Although the exchange has an immaterial impact on our fair value estimate, we think it will prove to be a win for both parties. We've slightly increased our fair value estimate to CAD 34 to account for time value of money effec...
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