MIAMISBURG, Ohio, March 29,
2022 /PRNewswire/ -- Verso Corporation (NYSE: VRS)
("Verso") today announced it has received necessary approvals from
the Nuclear Regulatory Commission and the Public Service Commission
of Wisconsin to complete its
previously announced merger with BillerudKorsnäs AB
("BillerudKorsnäs"). Verso has now received all regulatory
approvals necessary to complete the merger.
The transaction is expected to close on March 31, 2022.
About Verso
VERSO CORPORATION is a leading 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.
Forward-Looking Statements
This release contains "forward-looking statements" regarding
Verso, BillerudKorsnäs or their respective management's future
expectations, beliefs, intentions, goals, strategies, plans and
prospects, which, in the case of Verso, are made in reliance on the
"safe harbor" provisions within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve substantial risks, known and unknown,
uncertainties, assumptions and other factors that may cause actual
results, performance or achievements to differ materially from
future results expressed or implied by such forward-looking
statements including, but not limited to, the occurrence of any
event, change or other circumstances that could give rise to the
right of one or both of Verso or BillerudKorsnäs to terminate the
merger agreement; the ability to meet closing conditions to the
proposed merger on a timely basis or at all; difficulties and
delays in integrating Verso's and BillerudKorsnäs' businesses;
risks that the proposed merger disrupts Verso or BillerudKorsnäs
current plans and operations; failing to realize anticipated
synergies, cost savings and other anticipated benefits of the
proposed merger when expected or at all; potential adverse
reactions or changes to business relationships resulting from the
announcement or completion of the proposed merger; the risk that
unexpected costs will be incurred; the ability of Verso or
BillerudKorsnäs to retain and hire key personnel; the diversion of
management's attention from ongoing business operations;
uncertainty as to the price of Verso common stock; the outcome of
any legal proceedings that may be instituted against Verso,
BillerudKorsnäs or their respective directors and officers; changes
in global, political, economic, business, competitive, market and
regulatory forces; changes in laws and regulations or the
interpretation or enforcement thereof; changes in rates and
policies; future business acquisitions or disposals; competitive
developments; and the timing and occurrence (or non-occurrence) of
other events or circumstances that may be beyond Verso's and
BillerudKorsnäs' control. These and other risks, uncertainties,
assumptions and other factors may be amplified or made more
uncertain by the COVID-19 pandemic, which has caused significant
economic uncertainty. The extent to which the COVID-19 pandemic
impacts Verso's and BillerudKorsnäs' businesses, operations and
financial results, including (without limitation) the duration and
magnitude of such effects, will depend on numerous factors, which
are unpredictable, including, but not limited to, the duration and
spread of the outbreak, its severity, the actions taken to contain
the virus or treat its impact, and how quickly and to what extent
normal economic and operating conditions can resume.
Forward-looking statements generally relate to future events or
Verso's and BillerudKorsnäs' future financial or operating
performance and include, without limitation, statements relating to
the proposed merger and the potential impact of the COVID-19
outbreak on Verso's and BillerudKorsnäs' businesses and operations.
In some cases, you can identify forward-looking statements because
they contain words such as "anticipates," "believes,"
"contemplates," "could," "seeks," "estimates," "intends,"
"targets," "expects," "allows," "enables," "may," "plans,"
"potential," "predicts," "projects," "should," "will," "would" or
similar expressions and the negatives of those terms.
While forward-looking statements are Verso's and
BillerudKorsnäs' current predictions at the time they are made, you
should not rely upon them. Forward-looking statements represent
Verso's and BillerudKorsnäs' management's beliefs and assumptions
only as of the date of this release, unless otherwise indicated,
and there is no implication that the information contained in this
release is made subsequent to such date. For additional information
concerning factors that could cause actual results and outcomes to
differ materially from those expressed or implied in the
forward-looking statements, please refer to the cautionary
statements and risk factors included in Verso's filings with the
SEC, including the definitive proxy statement filed with the SEC on
February 8, 2022, Verso's Annual
Report on Form 10-K filed with the SEC on February 28, 2022, and any further disclosures
Verso makes in Current Reports on Form 10-Q or Form 8-K. Verso's
SEC filings are available electronically on Verso's investor
website at https://investor.versoco.com/ or the SEC's website at
www.sec.gov.
Except as required by law, Verso and BillerudKorsnäs assume no
obligation to update these forward-looking statements or this
release, or to update, supplement or correct the information set
forth in this release or the reasons actual results could differ
materially from those anticipated in the forward-looking
statements, even if new information becomes available in the
future. All subsequent written and oral forward-looking statements
attributable to Verso or BillerudKorsnäs or any person acting on
behalf of either party are expressly qualified in their entirety by
the cautionary statements referenced above.
All subsequent written and oral forward-looking statements
attributable to Verso, BillerudKorsnäs or any person acting on
behalf of either party are expressly qualified in their entirety by
the cautionary statements referenced above.
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SOURCE Verso Corporation