secwatch.observer — SEC 8-K summary
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Issuer:     Magnera Corp (MAGN)
CIK:        0000041719
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001104659-24-011685
Event type: m_and_a
Sentiment:  positive
Materiality: 0.95
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glatfelter merges with Berry's HHNF in $3.6B Reverse Morris Trust; GLT holders get 10%
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- Transaction valued at $3.6B enterprise value; pro forma revenue ~$3.6B, Adj. EBITDA ~$455M.
- Glatfelter shareholders own 10% of combined company; Berry shareholders via Spinco own 90%.
- Berry receives ~$1B cash distribution at closing; cost synergies target >=$50M by year three.
- Pro forma net leverage 4x; Spinco enters $1.585B term loan and $250M ABL facility.
- Curt Begle, President of Berry HHNF, to become CEO of combined company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/41719/000110465924011685/0001104659-24-011685-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/41719/000110465924011685/tm245431d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-011685

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