3 companies account for $3 billion merger of specialty materials makers

By McCord Pagan (March 28, 2022, 4:20 p.m. EDT) — Specialty materials makers Schweitzer-Mauduit International Inc. and Neenah Inc. announced Monday that they are merging to create a company with approximately $3 billion in revenue, in under an arrangement led by King & Spalding LLP, Bryan Cave Leighton Paisner LLP and Cravath Swaine & Moore LLP.

As part of the deal, Neenah investors will receive 1,358 shares of SWM for each of their shares, and the combined company will be owned 58% by SWM shareholders and 42% by Neenah backers, according to a joint press release.

SWM is led by King & Spalding, while Neenah is represented by Bryan Cave and the independent…

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