As expected, Verso is consolidating locations and moving its headquarters from Tennessee to Ohio. Verso purchased NewPage Holdings for $1.4 billion in January 2014, but later filed for Chapter 11 bankruptcy. While Verso has emerged from bankruptcy, the company is not out of the woods yet. “You’ve got a wounded company cutting staff, and that hurts morale,” …
Tag: Memphis Business Journal
Verso Files for Chapter 11– What Went Wrong?
Capstone CEO David Braun’s Analysis in the Memphis Business Journal Verso Paper, after acquiring NewPage Holdings for $1.4 billion in January 2014, has filed for Chapter 11 bankruptcy. Verso, which manufactures coated paper used in products like magazines, is struggling in a declining market. With its new acquisition, the company failed to realize desired economies …
Trouble with Financing the Verso-NewPage Acquisition
Just 22 days after announcing its plans to acquire NewsPage Holdings, Verso Paper is facing some trouble pulling together the financing for the deal. What does Verso’s latest announcement mean? Will the deal still move forward? Capstone CEO David Braun and Managing Director John Dearing analyze the latest developments in the Memphis Business Journal. Read …
Verso Paper – NewPage Acquisition: Capstone CEO David Braun Weighs In
Verso Paper Corp announced it will acquire NewPage Holdings, Inc. in a deal valued at $1.4 billion. While the coated paper industry is in decline due to the rise of digital media, this acquisition could make Verso Paper and NewPage stronger, according to CEO David Braun. Read his entire analysis in the Memphis Business Journal. Photo …
