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US' Berry, Glatfelter reach regulatory milestone in proposed merger

19 Apr '24

1 min read

Pic: Berry Global

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Berry Global Group and Glatfelter Corporation have achieved a regulatory milestone for their proposed merger involving Berry's health, hygiene, and specialties segment with Glatfelter, including its nonwovens and films business.
The transaction will create a prominent publicly-traded specialty materials company through a Reverse Morris Trust transaction.

Berry Global Group and Glatfelter Corporation have announced the achievement of a regulatory milestone in the proposed transaction involving the combination of a majority of Berry’s health, hygiene and specialties segment to include its global nonwovens and films business (HHNF) with Glatfelter, with the expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act.

As previously announced on February 7, 2024, Berry and Glatfelter entered into a definitive agreement under which Berry will spin-off and merge its HHNF business with Glatfelter in a Reverse Morris Trust transaction. The transaction will create a leading, publicly-traded company in the specialty materials industry, the company said in a press release.

The transaction is expected to close in the second half of calendar 2024 and is subject to approval by Glatfelter shareholders and completion of customary closing conditions.

Fibre2Fashion News Desk (RR)