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Why Verso Popped 26.1% Today

TheMotleyFool

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Shares of Verso (NYSE: VRS) jumped as much as 36.1% in trading on Monday, after paper products company announced that BillerudKorsnas will acquire it. The stock traded in a very tight range and ended the trading day up nearly 35%.

BillerudKorsnas as agreed to pay $825 million, or $27 per share, for Verso in an all-cash transaction that the board of directors unanimously approved. The offer is also a big premium from a $20-per-share offer Verso got from Atlas Holdings in July.

Image source: Getty Images.

Source Fool.com

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