Verso Paper Ends Talks To Acquire NewPage

Law360, Wilmington (September 5, 2012, 10:40 PM EDT) -- Verso Paper Corp., owned by private equity firm Apollo Global Management LLC, said on Tuesday it would not pursue further merger discussions with bankrupt rival NewPage Corp., the troubled papermaker that recently entered mediation with its creditors in the hope of resolving its nearly year-old Chapter 11 case.

Verso had previously submitted a $1.5 billion merger offer for its bankrupt competitor, only to be rebuffed by NewPage and its first-lien noteholders. Verso said Tuesday it would cease negotiations with both the company and its creditors regarding...
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