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Hot Stock; Verso Paper Corp. (VRS)

By Warren Paige

Shares of Verso Paper Corp. (NYSE: VRS), a leading North American producer of coated papers, surged in trading today.

VRS shares ended the day 47.86% higher at $1.73 on above average volume of 2.35 million. VRS shares touched an intra-day high of $2.38 in trading today.

VRS shares rallied after the company announced that it held talks with certain holders of 11.375% first-lien senior secured notes of NewPage Corporation in an effort to combine the two companies. NewPage had filed for bankruptcy in September 2011.

Verso has offered NewPage’s first-lien noteholders $1.075 billion of new Verso first-lien notes, $150 million of VRS common stock and $200 million in cash. Additionally, the proposed transaction would include a 100% recovery in cash to repay NewPage’s debtor-in-possession financing.

The combination of Verso and NewPage would result in a more robust business in the global coated and supercalendered paper industry.

 

July 3rd, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.