Verso Paper Corp to buy NewPage Holdings Inc for $1.4 bln

Monday, 6 Jan 2014 | 9:29 AM ET

Jan 6 (Reuters) - Coated paper producer Verso Paper Corp said it would buy 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.

NewPage shareholders will receive $250 million in cash and $650 million in notes. They will also receive a roughly 20 percent stake in Verso.

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