Verso [NYSE: VRS] Ink Confidentiality Agreement with Atlas FRM

Verso Corporation [NYSE: VRS] has disclosed that it has inked a Confidentiality Agreement with Atlas FRM LLC. The two parties confirmed to exchange additional information under the terms of the Agreement to help ongoing discussions regarding a possible transaction with Atlas on mutually acceptable terms.

The special committee of the Board of Directors of Verso previously discussed to Atlas its determination, made in consultation with its financial and legal advisors, that Atlas’ earlier disclosed $20.00 per share all-cash offer to buy Verso was insufficient. It has been disclosed by the firm that the Special Committee would only consider a potential transaction if Atlas implicitly improved its offer from $20.00.

There can be no guarantee that any negotiations between Verso and Atlas will happen after the exchange of additional information, and if such discussion happens, there can be no guarantee that any deal with Atlas (or any other party) will occur or be effectuated.

Verso does not plan to talk about or further share the latest news regarding the Special Committee’s evaluation except and until it considers this further revelation is appropriate is necessary. Verso stockholders don’t need to do anything at this time. The financial advisor of the firm is Rothschild & Co and the legal counsel to the Special Committee is Kirkland & Ellis LLP.