Analysts hoping they'd get answers from Verso's top management about the jinn's seemingly stalled acquisition of NewPage were disappointed when CFO Robert Mun-dy said they would not take questions on the firm's Mar. 6 earnings conference call. The $1.4 billion merger agreement between North America's two largest coated printing and writing papermakers requires Verso to restructure its debt before the deal can close. But on Feb. 28, Verso cancelled its debt exchange offering when a group of bond holders broke off negotiations, complaining that they were "very disappointed" with the company's proposal (P&PW, Feb. 28, p. 1).
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