Neenah

Schweitzer-Mauduit (SWM) and Neenah agreed an all-stock merger of equals creating a specialty materials company with about $3 billion in combined revenue, targeting at least $65 million in annual run-rate cost synergies within 24-36 months.

US paper manufacturer Neenah signed a definitive agreement to acquire Global Release Liners, the parent of Spanish release liner maker ITASA, for a cash consideration of EUR 205 million ($247 million), with closing expected the following month.