Shearman & Sterling is advising Wausau Paper Corp. on its acquisition by SCA in a transaction valued at $513 million. The completion of the transaction is subject to Wausau shareholder approval and customary closing conditions, including regulatory approvals. Closing is expected to take place during Q1 2016.
Wausau Paper produces a complete line of away-from-home towel and tissue products that are marketed along with soap and dispensing system products under a number of brands including Artisan, DublSoft, DublNature, EcoSoft and related custom brands. Wausau is listed on the NYSE under the symbol WPP.
SCA is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands, such as Libero, Libresse, Lotus, Nosotras, Saba, Tempo and Vinda. As Europe’s largest private forest owner, SCA places considerable emphasis on sustainable forest management. The Group has about 44,000 employees. Sales in 2014 amounted to approximately SEK 104bn (EUR 11.4bn). SCA was founded in 1929, has its headquarters in Stockholm, Sweden, and is listed on NASDAQ OMX Stockholm.
The Shearman & Sterling team includes partners Scott Petepiece (New York-Mergers & Acquisitions), David Connolly (New York-Mergers & Acquisitions), Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Dale Collins (New York-Antitrust) and Jessica Delbaum (New York-Antitrust); counsel Daniel Litowitz (New York-Mergers & Acquisitions), Jordan Altman (New York-Intellectual Property Transactions), and Jason Pratt (New York-Environmental); and associates Derrick Lott (New York-Mergers & Acquisitions), Edward Boehme (New York-Mergers & Acquisitions), Zach Shub-Essig (New York-Mergers & Acquisitions), Nell Beekman (New York-Compensation, Governance & ERISA), Matt Wochok (Washington, DC-Tax), Matthew Weston (New York-Compensation, Governance & ERISA), Mark Pereira (New York-Intellectual Property Transactions) and Aleksandra Petkovic (New York-Antitrust).