Coillte now hopes to complete the takeover by the end of the month, when it will make a full statement to the trade.
“We very much welcome the decision of the Competition Authority to approve the acquisition,” said Coillte company secretary Gerry Egan.
The Competition Authority looked at the proposed deal as both parties are involved in the manufacture and supply of wood products in Ireland. Coillte owns the SmartPly OSB mill, while Weyerhaeuser operates the Clonmel MDF plant.
The authority examined the potential effect on competition across a range of vertically related markets in the sector.
It concluded that the result of the acquisition would not substantially lessen competition in markets for goods or services in Ireland, and “may accordingly be put into effect”.
Weyerhaeuser Europe’s business also includes sales offices in the UK and the Netherlands.
