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Fri, Nov 22, 2024 02:11
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Management Side
Shareholder vote set for Glatfelter merger with Berry division

Berry Global Group, Inc. (NYSE:BERY) and Glatfelter Corporation (NYSE:GLT) announced the date of the special meeting of the Glatfelter shareholders to seek approval of, among other matters, the issuance of additional shares of Glatfelter common stock as well an amendment to the Glatfelter charter to increase the number of authorized shares of Glatfelter common stock and to effect a reverse stock split of the common shares of Glatfelter. Approval of these matters by the Glatfelter shareholders will be a significant milestone in the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter in a Reverse Morris Trust transaction. As previously disclosed, upon closing of the transaction, the combined company will be renamed Magnera Corporation.

The special meeting of the Glatfelter shareholders will be held online on October 23, 2024 at 8:00 AM Eastern Daylight Time via live audio webcast at www.virtualshareholdermeeting.com/GLT2024SM.

The Glatfelter shareholders of record as of the close of business on September 3, 2024 are entitled to vote at the special meeting and will receive the proxy statement/prospectus, which will be mailed to shareholders beginning on or about September 20, 2024. The proxy statement/prospectus contains important information about the proposed transaction and the matters to be considered at the special meeting. The proxy statement/prospectus is available on the SEC's website at https://www.sec.gov/Archives/edgar/data/41719/000110465924101145/tm2412884-18_424b3.htm.

Glatfelter's board of directors unanimously recommend that the Glatfelter shareholders vote "FOR" all the matters to be considered at the special meeting. For the transaction to close, the Glatfelter shareholders must approve the share issuance and the charter amendment proposals.

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