Wausau Paper Sale Pushed

One of Wausau Paper's largest shareholders now wants the company to sell its specialty paper division or even the entire company. In a letter filed this week 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.

"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,"