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Monday, January 6, 2014

Verso Paper Corp to purchase NewPage Holdings Inc for $1.4 bln, (NYSE: VRS)

Coated paper producer Verso Paper Corp said it would purchase privately held NewPage Holdings Inc for $1.4 billion. The combined company will have annual sales of about $4.5 billion and 11 manufacturing facilities located in six states.

Verso Paper Corp. (Verso Paper) is a holding company. Shares of VRS traded higher by 224.62% or $1.46/share to $2.11. In the past year, the shares have traded as low as $0.52 and as high as $1.68. On average, 28311 shares of VRS exchange hands on a given day and today's volume is recorded at 12500.