Breaking News

Verso, NewPage receive information requests from DOJ

April 4, 2014

The requests are in connection with Verso's proposed acquisition of NewPage.

Verso Paper Corp. and NewPage Holdings Inc. have announced that they each have received a request for additional information (the "Second Requests") from the U.S. Department of Justice (the "DOJ") in connection with Verso's proposed acquisition of NewPage. The DOJ issued the Second Requests pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act").

The effect of the Second Requests is to extend the waiting period imposed by the HSR Act until 30 days after Verso and NewPage have substantially complied with the Second Requests, unless that period is extended voluntarily by the parties or terminated sooner by the DOJ.

Verso and NewPage intend to cooperate fully with the DOJ in responding to the Second Requests with the goal of achieving the expiration or termination of the HSR Act waiting period. The completion of the transaction remains subject to HSR Act clearance and the satisfaction of other closing conditions.

In connection with the transaction, Verso and NewPage already have received regulatory approval from the Federal Energy Regulatory Commission, and NewPage has closed its new $750 million term loan facility and new $350 million ABL facility, each of which is a condition to closing the transaction. The parties continue to expect the transaction to close during the second half of 2014.
  • Getting Educated at Labelexpo

    Getting Educated at Labelexpo

    Steve Katz, Editor||September 7, 2016
    With a wide range of presentations, expert-led master classes and machinery demonstrations, there is no shortage of learning

  • Flexo Presses

    Flexo Presses

    Greg Hrinya||April 16, 2015
    Improvements in speed, automation and versatility drive flexo press evolution.

  • Smart technology redefines the label industry

    Smart technology redefines the label industry

    Greg Hrinya, Associate Editor||March 9, 2015
    The ‘internet of things’ has brands and consumers closer than ever before.