Verso to Acquire NewPage for $1.4 Billion
Substantially deleveraged Verso better positioned to deliver long-term value for stakeholders in increasingly competitive industry.
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Compelling Strategic Rationale
"The combination of Verso and NewPage will create a stronger business that is better positioned to serve our customers and compete in a competitive global marketplace," said David J. Paterson, Verso's president and chief executive officer. "We continue to face increased competition from electronic substitution for print and international producers, but as a larger, more efficient organization with a sustainable capital structure, we will be better positioned to compete effectively and deliver solid results despite the industry's continuing challenges. Furthermore, we believe the transaction provides stakeholders in both companies with meaningful, compelling value."
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- Companies:
- NewPage Corporation
- People:
- David J. Paterson
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