Verso Corp. Announced Unsolicited Takeover Bid from Atlas Holdings

SEATTLE (Scrap Monster): Miamisburg, Ohio-headquartered paper mill company Verso of Corporation announced that it has received an unsolicited acquisition proposal from Atlas Holdings LLC. As per the proposal, Atlas Holdings has expressed interest in acquiring all outstanding shares of Class A common stock of the company for $20.0 per share in an all-cash transaction.

The company press release noted that the proposal will be carefully reviewed and evaluated by the company’s Board of Directors, in consultation with its financial and legal advisors. The Board will then decide upon a suitable course of action, which will be in the best of interests of the company’s shareholders.

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Furthermore, the company recommended that the stockholders are not required to take any immediate action at this point of time. There is no surety that the two parties will negotiate on the proposal. Moreover, there is no assurance that the transaction with Atlas Holdings will realize, even if negotiations do take place.

Verso Corporation announced that it does not intend to make any further comments with respect to the proposal or any matter pertaining to potential transaction, until the two parties reach a formal agreement. The updates on potential transaction will be made public whenever necessary, it noted.