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4 years ago
Verso Paper Corp to buy NewPage Holdings Inc for $1.4 billion
January 6, 2014 / 2:32 PM / 4 years ago

Verso Paper Corp to buy NewPage Holdings Inc for $1.4 billion

(Reuters) - Coated paper producer Verso Paper Corp (VRS.N) said it would buy privately held NewPage Holdings Inc for $1.4 billion.

The combined company will have annual sales of about $4.5 billion and 11 manufacturing facilities located in six states.

NewPage shareholders will receive $250 million in cash and $650 million in notes. They will also receive a roughly 20 percent stake in Verso.

Reporting by Swetha Gopinath in Bangalore; Editing by Don Sebastian

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