{"id":18183,"date":"2021-12-20T09:26:28","date_gmt":"2021-12-20T17:26:28","guid":{"rendered":"https:\/\/marketdepth.com\/?p=18183"},"modified":"2021-12-20T09:26:30","modified_gmt":"2021-12-20T17:26:30","slug":"verso-corporation-is-acquired-for-27-per-share-in-cash-or-approximately-825-million","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/verso-corporation-is-acquired-for-27-per-share-in-cash-or-approximately-825-million\/","title":{"rendered":"Verso Corporation is Acquired for $27 Per Share in Cash, or Approximately $825 Million"},"content":{"rendered":"\n

Verso Corporation<\/strong> (NYSE: VRS) stock jumps more than 30% after the Company announced that it has entered into a definitive merger agreement under which BillerudKorsn\u00e4s AB. According to the agreement BillerudKorsn\u00e4s will acquire all of the outstanding shares of Verso for a purchase price of $27 per share in cash, or approximately $825 million1<\/sup>.<\/p>\n\n\n\n

“With the support of our talented team, Verso has successfully streamlined our operations and reduced costs while strategically investing in projects to enhance our ability to support our customers. This transaction builds upon our considerable progress and better positions the combined company to invest in our North American manufacturing capability, provide high-quality paper products to customers and accelerate growth.”<\/p>Randy Nebel, President and Chief Executive Officer of Verso<\/cite><\/blockquote>\n\n\n\n

The consideration corresponds to a premium of approximately 35% compared to closing price of Verso’s shares on\u00a0December 17, 2021; a premium of approximately 26% compared to Verso’s volume-weighted average share price during the last 30 trading days; and a premium of approximately 57% compared to the unaffected closing price of Verso’s shares on\u00a0July 9, 2021, the day prior to Atlas Holdings’ submission of an unsolicited, non-binding proposal to acquire Verso for\u00a0$20.00\u00a0per share in cash.<\/p>\n\n\n\n

“This agreement follows careful consideration and negotiation led by the special committee of our Board which was formed following receipt of the unsolicited proposal earlier this year. Our full Board believes this transaction maximizes value for shareholders, who will receive a significant premium and immediate and certain value. In BillerudKorsn\u00e4s, we found a partner that shares our commitments to safety, quality, sustainability and innovation and is uniquely positioned to recognize the value of our business. We are grateful for BillerudKorsn\u00e4s’ partnership over the past several months in reaching this compelling transaction, particularly amidst an uncertain and restrictive pandemic-related travel environment. We are excited to join forces with BillerudKorsn\u00e4s and benefit from enhanced opportunities as part of a larger, stronger organization.”<\/p>Randy Nebel, President and Chief Executive Officer of Verso<\/cite><\/blockquote>\n\n\n\n

1<\/sup>\u00a0Based on 30.5 million fully diluted shares outstanding using the treasury stock method.<\/p>\n","protected":false},"excerpt":{"rendered":"Verso Corporation (NYSE: VRS) stock jumps more than 30% after the Company announced that it has entered into a definitive merger agreement under which BillerudKorsn\u00e4s AB. According to the agreement BillerudKorsn\u00e4s will acquire all of the outstanding shares of Verso for a purchase price of $27 per share in cash, or approximately $825 million1. “With… View Article<\/a>","protected":false},"author":3,"featured_media":17899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,17,11,16],"tags":[],"acf":[],"yoast_head":"\nVerso Corporation is Acquired for $27 Per Share in Cash, or Approximately $825 Million - MarketDepth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/marketdepth.com\/verso-corporation-is-acquired-for-27-per-share-in-cash-or-approximately-825-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Verso Corporation is Acquired for $27 Per Share in Cash, or Approximately $825 Million - MarketDepth\" \/>\n<meta property=\"og:description\" content=\"Verso Corporation (NYSE: VRS) stock jumps more than 30% after the Company announced that it has entered into a definitive merger agreement under which BillerudKorsn\u00e4s AB. 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