Glatfelter Corporation's Strategic Moves and Merger with Berry Global's Division

• Glatfelter Corporation (NYSE:GLT) executed a reverse stock split at a 13-for-1 ratio as part of its strategic plans.
• The merger with Berry Global Group Inc.'s division has led to the formation of Magnera, set to become the largest nonwovens company globally.
• Glatfelter's stock price currently stands at $21.05, with a market capitalization of approximately $957.7 million.

Glatfelter Corporation (NYSE:GLT) is a global supplier of engineered materials, specializing in nonwoven products and specialty papers. On November 4, 2024, GLT executed a reverse stock split at a 13-for-1 ratio. This strategic move aligns with Glatfelter's recent merger with Berry Global Group Inc.'s Health, Hygiene, and Specialties Global Nonwovens and Films business, forming Magnera, the largest nonwovens company worldwide.

The merger with Berry Global's division has been a significant milestone for Glatfelter. The newly formed entity, Magnera, will begin trading on the New York Stock Exchange under the ticker "MAGN" on November 5, 2024. This transition is a crucial step in Glatfelter's strategic plans, as highlighted by the company's third-quarter results announcement.

Glatfelter's shareholders have approved all necessary proposals related to the merger during a Special Meeting. These proposals included share issuance, charter amendments, an omnibus plan, and an advisory compensation proposal. The merger is expected to be finalized on November 4, 2024, pending the fulfillment or waiver of closing conditions.

Currently, GLT's stock price is $21.05, reflecting a decrease of 6.94% with a change of $1.57. The stock has traded between $20.07 and $22.80 today, with a 52-week high of $35.23 and a low of $15.80. Glatfelter's market capitalization is approximately $957.7 million, with a trading volume of 339,306 shares on the NYSE.