Nip Impressions logo
Wed, Nov 25, 2020 14:40
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
LSC Communications Receives Court Approval for Sale to Atlas Holdings and Supporting Creditors
CHICAGO (News release) -- LSC Communications, Inc. announced that the U.S. Bankruptcy Court for the Southern District of New York (the "Court") has approved its previously announced stock and asset purchase agreement, under which an affiliate of Atlas Holdings LLC ("Atlas"") with the support of certain of LSC's secured creditors (the "Creditor Group"), will acquire substantially all of the Company's assets.

"With the Court's approval of the sale, we are able to move forward with this value-maximizing transaction that represents the best path forward for all LSC stakeholders," said Thomas J. Quinlan III, LSC Communications' Chairman, President and Chief Executive Officer. "We are confident that through this partnership with Atlas, LSC will be uniquely well-positioned to strengthen and grow our market-leading position and provide our customers with the same high standards of quality, reliability and innovation. On behalf of the LSC Board and management team, I would like to sincerely thank all of our employees for their hard work and dedication throughout this process."

The transaction remains subject to customary closing conditions, including regulatory approvals. The transaction is expected to close during the fourth quarter of 2020.

The highest value mill directory in the US at the lowest price $34.20. Click for Instructional Video.


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: