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Verso Corporation (NYSE: VRS) delivers essential materials for modern commerce through its graphic papers, packaging solutions, and specialty pulp products. This news hub provides investors and industry professionals with timely updates on strategic developments across Verso's operations.
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Verso Corporation (NYSE: VRS) has obtained all necessary regulatory approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin for its merger with BillerudKorsnäs AB. The merger is set to close on March 31, 2022. Verso is a prominent manufacturer of various paper products and market pulp, known for quality and reliability in the commercial printing and packaging sectors. This merger is expected to enhance market presence and operational synergies.
Verso Corporation (NYSE: VRS) announced that its stockholders approved the merger with BillerudKorsnäs AB on March 11, 2022. The proposal received support from approximately 98.5% of the votes cast, representing about 73% of outstanding shares. The companies expect the merger to finalize in late March or April 2022, pending regulatory approvals. The Hart-Scott-Rodino Antitrust Improvements Act waiting period ended on February 10, 2022, with additional regulatory consents received from Wisconsin authorities.
Verso Corporation (NYSE: VRS) reported Q4 2021 net sales of $328 million, up by 4% year-over-year, and a net income of $13 million, recovering from a net loss of $90 million in Q4 2020. The full year saw a 6% decline in net sales to $1.278 billion due to lower sales volumes. Adjusted EBITDA for Q4 was $74 million, a significant gain from $9 million in Q4 2020. Verso's pending merger with BillerudKorsnäs promises premium value to shareholders at $27.00 per share.
Verso Corporation (NYSE: VRS) will announce its fourth quarter and full year 2021 financial results on February 28, 2022. This announcement follows the definitive merger agreement with BillerudKorsnäs AB, wherein BillerudKorsnäs will acquire all outstanding shares of Verso for $27.00 per share in cash. As a result of the merger, Verso will not hold a conference call or an earnings presentation for its financial results. Investors can find the financial results on Verso's website.
Verso Corporation (NYSE: VRS) filed a definitive proxy statement for a special meeting on March 11, 2022, where stockholders will vote on the merger with BillerudKorsnäs AB. If approved, stockholders will receive $27.00 per share, representing a 57% premium over the pre-offer share price. The Board believes the BillerudKorsnäs offer is superior to any alternatives and in the best interest of stockholders. The deal is expected to close in Q2 2022, pending stockholder and regulatory approvals.
Verso Corporation (NYSE: VRS) has filed a preliminary proxy statement regarding a proposed merger with BillerudKorsnäs AB. If approved, stockholders will receive $27.00 per share in cash, reflecting a 57% premium over the stock's closing price on July 9, 2021. The Board asserts that this offer is superior to alternative options and represents the best value for stockholders. A special meeting will be scheduled for voting on this transaction. Investors are encouraged to review the preliminary proxy statement for further details.
Verso Corporation (NYSE: VRS) has entered a merger agreement with BillerudKorsnäs AB, where BillerudKorsnäs will acquire all outstanding shares of Verso for $27 each, valuing the deal at approximately $825 million. This represents a 35% premium over Verso's closing price on December 17, 2021. The acquisition aligns with BillerudKorsnäs’ strategy to expand in North America, converting Verso’s assets into sustainable paperboard production while retaining its specialty paper operations. The merger is expected to close in Q2 2022, pending shareholder and regulatory approvals.
Verso Corporation (NYSE: VRS) reported third quarter net sales of $339 million, marking an 11% increase year-over-year. The company achieved net income of $58 million, a turnaround from a $31 million loss in Q3 2020. Adjusted EBITDA reached $67 million, representing a significant increase from $12 million in the same period last year. Verso declared a cash dividend of $0.10 per share, payable on December 29, 2021. The company maintains strong liquidity of $286 million, including $166 million in cash, emphasizing a solid, debt-free balance sheet.
Verso Corporation (NYSE: VRS) will host a conference call and webcast on November 5, 2021, at 9 a.m. EST to discuss its third quarter 2021 financial results. Investors can join the call by dialing 888-317-6003 or through the provided web links. A replay will be available starting at 11 a.m. EST on the same day and accessible until December 3, 2021. Verso is a leading producer of graphic, specialty, and packaging paper, with a reputation for quality. For more details, visit investor.versoco.com.
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