Building products company Louisiana-Pacific Corp. said Wednesday that it is buying Ainsworth Lumber Co. Ltd. of Canada for $1.1 billion, a figure that includes the assumption of Ainsworth's debt.The purchase price amounts to CA$3.76 per share (US$3.57 per share). The deal marks a 30 percent premium to Ainsworth's closing price Tuesday of CA$2.89 ($2.75).The transaction has the unanimous support of Ainsworth's board of directors. Private equity funds managed by Brookfield Asset Management Inc., which owns 54 percent of Ainsworth stock, agreed to vote in favor of the deal.

Louisiana-Pacific agreed to acquire Canada's Ainsworth Lumber for $1.1 billion in cash and stock. The deal represents a big wager on the housing market, and investors like what they see! LPX rallies 8 percent before the opening bell on my tradeMONSTER platform.