11:03 AM EDT, 09/20/2024 (MT Newswires) -- Berry Global Group ( BERY ) and Glatfelter Corp. (GLT) said Friday that a special shareholder meeting for Glatfelter shareholders to vote on the proposed merger of Berry's Health, Hygiene, and Specialties Global Nonwovens and Films business with Glatfelter is scheduled for Oct. 23.

The key proposals to be voted on include issuing additional Glatfelter common stock, amending the Glatfelter charter to increase authorized shares, and executing a reverse stock split of Glatfelter's common shares, according to the joint statement.

This merger will occur via a Reverse Morris Trust transaction, and upon successful closure, the combined entity will be renamed Magnera Corporation, the statement added.

Shareholders of record as of Sept. 3, will receive a prospectus containing vital information regarding the merger, with mailing starting today, it added.

For the merger to be finalized, Glatfelter shareholders must approve both the issuance of new shares and the charter amendment proposals, the companies said in the statement.

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