Verso Paper Mill in Wisconsin Rapids. Image courtesy: WAOW TV
WISCONSIN RAPIDS, WI (WSAU-WAOW) – The proposed merger of the Verso Paper Mill with Swedish company BillerudKorsnäs is nearly complete.
On Tuesday, BillerudKorsnäs officials say it has met all of the necessary regulatory approvals to acquire the Wisconsin Rapids mill.
BillerudKorsnäs agreed to acquire the Verso for $825 million, or $27 per share.
Verso’s headquarters is in Miamisburg, Ohio. They have two paper mills in Michigan, a roll to sheet converting facility in Wisconsin, and two distribution centers in Sauk Village, Illinois and Bedford, Pennsylvania.
The Wisconsin Rapids mill has been idled for nearly two years, and was damaged by a fire caused by a lightning strike. It’s unclear when or if operations will be re-started there.
The merger is expected to be finalized Thursday.
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