That $1.4 billion acquisition of NewPage by Verso announced in early January might not happen after all, according to the latter, because it’s having trouble arranging a debt swap to finance it. At least one industry consultant believes that this inability to get the proper financial backing for the deal demonstrates that “Not many people are excited to finance the prospects of the industry.” The principals involved have until Feb. 10th to meet this particular merger requirement.
What this might mean for those of us who already bought our Verso-NewPage wedding gifts, we cannot say…
