BillerudKorsnäs entered into a merger agreement with Verso Corporation under which BillerudKorsnäs agreed to acquire Verso for a purchase price of approximately $825 million in cash. At a special meeting of Verso’s shareholders, holders of the requisite majority of Verso’s outstanding shares of common stock voted to adopt the merger agreement and approve the transaction.
BillerudKorsnäs expects the transaction to close in late-March or April of 2022, subject to the satisfaction of customary closing conditions, including the receipt of remaining regulatory approvals from the U.S. Nuclear Regulatory Commission and the Public Service Commission of Wisconsin.
Verso is a leading producer of coated papers in North America with reported net sales for 2021 of $1 278 million and adjusted EBITDA of $223 million.
BillerudKorsnäs is one of the leading manufacturers of packaging paper made from virgin fibers.
