RBC Capital analyst Arun Viswanathan raised his price target on Berry Global to $69 and kept his Outperform rating. Viswanathan says that despite the volume decline -attributed to industry-wide processed food softness - and the EBITDA miss in Q4, conditions will improve into the second half of FY18 thanks to new wins in Consumer Packing business and easing comps in the Health, Hygiene, & Specialties segment.

Berry Global (BERY) and Glatfelter (GLT) announced the achievement of a regulatory milestone in the proposed transaction involving the combination of a majority of Berry's Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business, or HHNF, with Glatfelter, with the expiration of the required waiting period under the Hart-Scott-Rodino, or HSR, Antitrust Improvements Act. As previously announced on February 7, Berry and Glatfelter entered into a definitive agreement under which Berry will spin-off and merge its HHNF business with Glatfelter in a Reverse Morris Trust transaction. The transaction will create a leading, publicly-traded company in the specialty materials industry. The transaction is expected to close in the second half of calendar 2024 and is subject to approval by Glatfelter shareholders and completion of customary closing conditions.