Verso Corp - Ordinary Shares - Class A

NYSE:VRS   3:59:50 PM EDT
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Debt Financing / Related, Mergers / Acquisitions

Verso Says It Will Be Acquired By Billerudkorsnäs AB For $27 Per Share In Cash, Or About $825 Million

Published: 12/19/2021 23:31 GMT
Verso Corp - Ordinary Shares - Class A (VRS) - Oration to Be Acquired by BillerudkorsnÄs Ab for $27 per Share in Cash, Or Approximately $825 Million.
Verso's Board of Directors, Acting Upon the Recommendation of a Special Committee of Verso's Board, Has Unanimously Approved.
Resolved to Recommend Approval of the Merger by Verso's Shareholders.
Transaction is Expected to Close in the Second Quarter of 2022.
Verso- Consideration Corresponds to a Premium of Approximately 35% Compared to Closing Price of Verso's Shares on December 17.
BillerudkorsnÄs Plans to Convert Verso's Largest Facility, Escanaba Mill, Into Sustainable, Fully Integrated Paperboard Production Site.
BillerudkorsnÄs Estimates That the Investment for Conversion Project Will Be Up to Approximately $1 Billion.
Acquisition Will Be Primarily Financed by BillerudkorsnÄs Through Increased Debt and Operating Cash Flow.
Further Company Coverage: .