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Fri, Dec 9, 2022 08:49
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Management Side
Verso Announces Stockholder Approval of Merger Agreement with BillerudKorsnäs

MIAMISBURG, Ohio (News release) -- Verso Corporation announced that, at a special meeting of stockholders held March 11, its stockholders voted to approve the previously announced merger with BillerudKorsnäs AB ("BillerudKorsnäs") as well as other related proposals.

The merger proposal was supported by approximately 98.5% of votes cast, representing approximately 73% of outstanding shares of Verso's common stock. The final voting results of the special meeting, as tabulated by an independent inspector of elections, will be filed as part of a Form 8-K with the U.S. Securities and Exchange Commission.

Verso and BillerudKorsnäs now expect the merger to close in late-March or April of 2022, subject to the satisfaction of customary closing conditions, including the receipt of approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") expired effective February 10, 2022. The State of Wisconsin Department of Health Services consented to the transaction on February 25, 2022 and the Federal Energy Regulatory Commission issued an order authorizing the transaction on March 8, 2022.

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