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Verso Paper Corp. : Takeover on the card for Verso

01/07/2014 | 01:21am US/Eastern

Shares in New York-listed coated paper producer Verso Paper more than doubled yesterday after it said it would buy privately held NewPage Holdings for $900m in cash and bonds. The combined company will have annual sales of about $4.5bn and 11 manufacturing facilities located in six US states. NewPage, which emerged from Chapter 11 bankruptcy in December 2012, had said last month it would delay a planned initial public offering.

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