Glatfelter announced today that it has completed its previously announced acquisition of Concert Industries Corp. from Brookfield Special Situations Management Limited, an affiliate of Brookfield Asset Management for $235 million subject to a post-closing working capital adjustment.
Glatfelter financed the acquisition through a combination of cash on hand, proceeds from the 7 1/8% unsecured senior notes issued on February 5, 2010 and borrowings under its existing revolving credit agreement. Glatfelter will operate Concert as a third business unit along with its Specialty Papers and Composite Fibers business units.
|Google Surprises with Top Management Changes (GOOG)|
|Morgan Stanley Earnings Up on Record Brokerage Fee (MS)|
|AT&T Announces New Bundle Choices (T)|
|E*TRADE Appoints Steven Freiberg CEO (ETFC)|
|February CPI Unchanged|
|US Jobless Claims Fall By 5K|
|Citi's Primerica unit files for IPO (C)|
|MetLife to Pay $1.5 Billion in Policy Dividends (MET)|
|Producer Prices Post Largest Fall In 7 months|
|IBM Launches New Line of Servers (IBM)|
|Activists Say Whole Foods Bad for Planet (WFMI)|
|Estee Lauder Launches Global Marketing Division (EL)|
|Moody's upgrades Dr Pepper Snapple Debt (DPS)|
|P&G Recalls Two Pringles Flavors (PG)|