Verso Corporation announced that it has entered into a definitive merger agreement under which BillerudKorsnäs AB will acquire all of the outstanding shares of Verso for a purchase price of $27 per share in cash, or approximately $825 million1. Verso's Board of Directors, acting upon the recommendation of a special committee of Verso's Board, has unanimously approved and resolved to recommend approval of the merger by Verso's shareholders. The transaction is expected to close in the second quarter of 2022. The acquisition of Verso is fully in line with BillerudKorsnäs' strategy to drive profitable growth in paperboard, and the ambition to expand into North America. BillerudKorsnäs aims to build one of the most cost-efficient and sustainable paperboard platforms in North America by converting several of Verso's assets into paperboard machines while maintaining Verso's position as a quality and cost leader in specialty and coated freesheet paper.

Comments by the CEO: Focus on cost adjustments and a stable balance sheet. The first quarter was marked by weak results due to continued rising prices for pulp wood, the challenging market trend for CTMP pulp and the weaker USD. We are now working intensively on cost adjustments and further efficiency measures. Meanwhile, the chemical softwood pulp market is stable and many of our niche customers still wish to increase their volumes. We are now rapidly implementing cost adjustments and efficiency measures on all fronts in response to worsening external conditions. We are therefore doing what is necessary, even if it is painful. At the end of March, 47 employees were given notice, mainly at Rottneros Mill where we produce mechanical CTMP pulp. Overall, we expect to reduce the Group’s cost base by 35–40 MSEK on an annual basis, with full effect during the second half of 2025. Profitability is primarily being squeezed in CTMP pulp due to the tough market situation. At present, several external factors are forcing us to scale back our production and limit deliveries to fewer markets.

Mactac continues to focus on delivering premium quality products at competitive prices. The recent inflationary environment impacting our markets has brought about challenges and volatility related to raw material pricing, freight, and the overall availability of key components. We have worked diligently with our suppliers to ensure a reliable supply of materials allowing us to continue to provide outstanding service in the pressure sensitive market. Having already absorbed a significant level of price increases along with indications of continued tightness of supply and price escalation, we find it necessary to recover part of these increased costs with a 5% increase on all Sheet and Graphic products effective on all orders placed beginning January 15, 2018 shipping within our standard published lead-times. Click Read More below for additional information.