MIAMISBURG, OH— Verso Corporation has entered into an agreement to merge with a Swedish paper company.
Under the agreement BillerudKorsnas will acquire all outstanding shares of Verso for $27 per share. That amounts to approximately $825 million.
BillerudKorsnas plans to convert the Escanaba mill into a paperboard production site. It will also continue to produce coated freesheet and specialty papers at the Quinnesec mill.
The transaction is expected to close in the second quarter of 2022.
