Berry Global And Glatfelter Reach Key Regulatory Step In Spin-Off And Merger Deal Involving Berry's Nonwovens And Films Business
Portfolio Pulse from Benzinga Newsdesk
Berry Global Group, Inc. (BERY) and Glatfelter Corporation (GLT) have reached a significant regulatory milestone in their spin-off and merger deal involving Berry's Health, Hygiene, and Specialties segment, specifically the Global Nonwovens and Films business, with Glatfelter. This step, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, moves the transaction closer to completion, expected in the second half of 2024, pending Glatfelter shareholder approval and other customary closing conditions.
April 17, 2024 | 11:19 am
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POSITIVE IMPACT
Berry Global's achievement of a regulatory milestone in the merger with Glatfelter's business marks a positive step towards completing the transaction, expected to enhance its position in the specialty materials industry.
The regulatory milestone achieved indicates progress in the merger process, likely viewed positively by investors as it enhances Berry's strategic positioning and growth prospects in the specialty materials sector.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Glatfelter's progress towards the merger with Berry Global's Nonwovens and Films business, pending shareholder approval, could significantly bolster its market position and offerings in the specialty materials industry.
The nearing completion of the merger, subject to shareholder approval, is likely to be seen as a positive development for Glatfelter, potentially expanding its product offerings and market reach.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80