Berry Global Group and Glatfelter Corporation are one step closer to finalizing their proposed merger, having secured all necessary regulatory approvals.
This significant development paves the way for the creation of a leading specialty materials company.
The deal involves Berry spinning off a major portion of its Health, Hygiene and Specialties segment, specifically the Global Nonwovens and Films business. This segment will then merge with Glatfelter to form a new publicly traded entity.
The approval process has seen a key milestone reached with the green light from regulatory bodies overseeing competition and foreign direct investment. However, the merger still requires approval from Glatfelter shareholders and the completion of standard closing procedures.
Berry and Glatfelter first announced their definitive agreement for this transaction in February 2024. The combined company is expected to be a major force within the specialty materials industry. With all major regulatory hurdles cleared, the anticipated closing date remains within the second half of 2024.
