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Berry Global agreed to spin off and merge its Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter in a Reverse Morris Trust deal valuing the combined company at $3.6 billion enterprise value. Berry shareholders will own 90% of the combined company and Berry will receive about $1 billion in cash.
Glatfelter signed a definitive agreement to buy Georgia-Pacific's European nonwovens business for $185 million, including the Steinfurt, Germany airlaid plant with 32,000 metric tons capacity.
