Verso Raises Possibility Of Selling Off Mills

Days after stakeholders said they would consider selling the Verso paper mill in Jay, Verso announced it will establish a committee to explore what it calls transaction alternatives, including the potential sale of some mills. Verso’s announcement, which came in a U.S. Securities and Exchange Commission filing, said the company has formed a Strategic Alternatives Committee, which will continue “efforts to identify and evaluate a range of potential strategic transaction alternatives, including the possible sale of some Verso mills, engage in discussions and oversee the due diligence process with parties potentially interested in transactions with the company, and recommend to the board whether any proposed transaction is in the best interests of the company and its stockholders.” This announcement comes shortly after the SEC filing from Mudrick Capital, a New York City-based investment firm that owns 15.3 percent of Verso’s stock.