MOSINEE, WI — One of Wausau Paper''s largest shareholders wants the company to sell its specialty paper division or even the entire company, according to the Wausau Daily Herald.
In a letter filed Thursday with federal regulators and sent to the Mosinee-based papermaker''s board of directors, Starboard Value — a New York-based hedge fund, which is a partnership involving private investors — wrote that Wausau Paper remains undervalued on Wall Street and that a sale could allow investors to make more money, the article stated.
"We''ve made moves related to that business plan, which included leaving the print and color division and focusing the efforts of the paper segment on specialty and technical papers. The letter written (Thursday) hasn''t changed that," said Wausau Paper spokesman Perry Grueber.
According to the article, this is the third letter that Starboard has filed with the U.S. Securities and Exchange Commission since last summer.
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