Verso Swings $1.4B Deal For Specialty Paper Co. NewPage

Law360, New York (January 6, 2014, 1:43 PM EST) -- Private equity-backed coated papers producer Verso Paper Corp. will buy NewPage Holdings Inc., a maker of printing and specialty paper, in a $1.4 billion deal that allows the companies to better respond to global competition, the companies announced Monday.

The combination of Memphis, Tenn.-based Verso, a portfolio company of New York private equity firm Apollo Global Management LLC, and Ohio-based NewPage will create a paper manufacturing powerhouse with sales of approximately $4.5 billion and 11 manufacturing plants in six states.

The $1.4 billion deal is composed...
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