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Berry, Glatfelter Merger Reaches Regulatory Milestone

Transaction receives approval under all competition and foreign direct investment rules

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By: Karen McIntyre

Editor, Nonwovens Industry

Berry Global Group, Inc. and Glatfelter Corporation have achieved an additional 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. In addition to the previously announced expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act, the parties have now received all other approvals and clearances under competition and foreign direct investment laws which were conditions to the consummation of the transaction.
 

In February, 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 and nonwovens industry.

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

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