West Fraser cleared to buy Norbord

West Fraser Timber Co.’s bid to acquire Norbord Inc. has been approved by both companies’ shareholders, according to a joint announcement. The all-stock transaction was originally announced in November and valued at some $4 billion. Under its terms, West Fraser acquires the issued and outstanding shares of the world’s largest producer of oriented strand board. In addition to meeting shareholder approval, the deal has cleared the necessary regulatory hurdles in the U.S. and Germany to proceed. Subject to meeting the final closing conditions, the transaction will be completed on Feb. 1.