Verso Announces Stockholder Approval of Merger Agreement with BillerudKorsnas
Verso Corporation (“Verso”) announced that, at a special meeting of stockholders held today, its stockholders voted to approve the previously announced merger with BillerudKorsnäs AB (“BillerudKorsnäs”) as well as other related proposals.
The merger proposal was supported by approximately 98.5% of votes cast, representing approximately 73% of outstanding shares of Verso’s common stock. The final voting results of the special meeting, as tabulated by an independent inspector of elections, will be filed as part of a Form 8-K with the U.S. Securities and Exchange Commission.
Verso and BillerudKorsnäs now expect the merger to close in late-March or April of 2022, subject to the satisfaction of customary closing conditions, including the receipt of approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”) expired effective February 10, 2022. The State of Wisconsin Department of Health Services consented to the transaction on February 25, 2022 and the Federal Energy Regulatory Commission issued an order authorizing the transaction on March 8, 2022.
Verso Corporation is a leading American owned and operated producer of graphic, specialty and packaging paper and market pulp, with a long-standing reputation for quality and reliability. Verso’s graphic paper products are designed primarily for commercial printing, advertising and marketing applications, including direct mail, catalogs, corporate collateral, books and magazines. Verso’s specialty paper products include release liner papers and label face stock for pressure sensitive, glue-applied and laminate applications. Verso produces packaging paper used in higher-end packaging and printing applications such as greeting cards, book covers, folders, labels and point-of-purchase displays. Verso also makes market pulp used in printing, writing, specialty and packaging papers, facial and toilet tissue, and paper towels. For more information, visit us online at versoco.com.
Shawn Hall – Director Communications – firstname.lastname@example.org – (937) 528-3700
Source: Verso Corporation