Glatfelter Announces Strategic Merger and Subsidiary Creation
Company Announcements

Glatfelter Announces Strategic Merger and Subsidiary Creation

Glatfelter (GLT) has released an update to notify the public and investors about an entry into a material definitive agreement.

Glatfelter Corporation has initiated a complex transaction involving a series of mergers and the creation of a subsidiary, Spinco, to facilitate the separation and transfer of Berry Global Group’s nonwovens and hygiene films business. The strategic move will result in Berry stockholders owning 90% of Glatfelter post-merger, with existing Glatfelter shareholders retaining a 10% stake. The transactions are designed to be tax-free for U.S. federal income tax purposes and are contingent upon various conditions, including regulatory approvals and a favorable IRS ruling. This restructuring is part of a Reverse Morris Trust deal, aiming to streamline operations and unlock shareholder value in a tax-efficient manner.

For further insights into GLT stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.

Related Articles
TipRanks Auto-Generated NewsdeskGlatfelter and Berry Reveal Magnera’s Post-Merger Board
GlobeNewswireBerry and Glatfelter Announce Magnera Board of Director Appointments in Connection With Proposed Merger of Berry’s Health, Hygiene and Specialties Global Nonwovens and Films Business With Glatfelter
GlobeNewswireBerry and Glatfelter Announce New Brand Name and Identity in Connection with Proposed Merger of Berry’s Health, Hygiene and Specialties Global Nonwovens and Films Business and Glatfelter
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Optimize your mobile reading experience. Download the TipRanks App today!