VRS - Verso to be acquired by Billerudkorsnäs for ~$825M

Verso (NYSE:VRS) inks merger agreement under which BillerudKorsnäs AB will acquire all of the outstanding shares of Verso for $27 per share in cash, or ~$825M. The transaction is expected to close in Q2 2022. In making this acquisition, BillerudKorsnäs recognizes that Verso's strategic assets are positioned in a region with abundant and cost-effective fiber supply suitable for production of premium packaging materials. Verso's location also presents favorable export opportunities to both Asia and Europe. The acquisition will be primarily financed through increased debt and operating cash flow.

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Verso to be acquired by Billerudkorsnäs for ~$825M