- NewCo will acquire the assets of Wausau’s Rhinelander and Mosinee mills; the assets of Wausau’s Brainerd mill are not included in the transaction;
- The transaction requires that the United Steelworkers ratify new collective bargaining agreements with NewCo;
- Wausau will retain legacy defined benefit pension and post-retirement liabilities related to the businesses being sold to NewCo; and
- The initial cash purchase price will be approximately $130 million, subject to KPS’ confirmatory due diligence and adjustments for the ultimate treatment of certain transaction related liabilities and customary post closing adjustments.
Wausau Paper Announces Letter Of Intent To Divest Specialty Paper Business
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