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Slide #24. Verso Paper Corp. — NewPage
Verso Paper Corp. (NYSE:VRS)
Verso Paper Corp. (NYSE:VRS), a leading North American producer of coated papers, and NewPage Holdings Inc., a leading producer of printing and specialty papers, today announced that they have entered into a definitive agreement under which Verso will acquire NewPage in a transaction valued at $1.4 billion. Upon closing of the transaction, the combined company will have sales of approximately $4.5 billion and 11 manufacturing facilities located in six states. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close in the second half of 2014, subject to regulatory approvals.
Verso is a producer of coated papers, shipped in both roll and sheet formats, which is used primarily in printing applications to produce advertising brochures, catalogs and magazines among other media and marketing publications as well as specialty and packaging applications. Co. products include: Graphic papers, which include coated freesheet, uncoated freesheet, coated groundwood and supercalendered paper; specialty paper, which produces paper grades used as labels for packaging, canned goods and other related applications; packaging papers, which are used in higher-end packaging and printing applications; and pulp, which Co. produces and sells Northern Bleached Hardwood Kraft.
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Strong Buy (4.00 out of 4)