Thursday, July 5, 2012

Initial Reaction to Verso Move Positive


Verso Paper Corp.'s shares soared Tuesday after the paper company said it's talking with stakeholders of NewPage Corp. about bidding for the rival company, which filed for Chapter 11 bankruptcy protection in September.
Verso's shares rose 56 cents, or nearly 48 percent, to close Tuesday at $1.73. Shares of the Memphis, Tenn.-based company have traded between 85 cents and $3.36 in the past 52 weeks.