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Merging SWM, Neenah Pick Mativ as Name of Combined Specialty Materials Firm.

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Vincent

MANews-(C)2009-2022

Georgia, US-based performance materials company Schweitzer-Mauduit International, Inc. (NYSE: SWM) and Georgia-based speciality materials provider Neenah, Inc. (NYSE: NP) have announced the future name of the combined company upon completing the pending all-stock merger of equals, the companies said.

Each company's shareholders are scheduled to vote on the transaction on June 29, 2022.

The transaction is expected to close on or around July 1, 2022, subject to Neenah and SWM shareholder approval, approval by antitrust authorities in Poland, and other customary closing conditions.

Upon close, the new company name will be Mativ, Inc. and its shares will begin trading on the NYSE under the ticker symbol "MATV." The "SWM" and "NP" ticker symbols will be deactivated.

In March, Schweitzer-Mauduit agreed to combine with Neenah in an all-stock merger of equals to create a company with combined revenues of approximately USD 3bn.

Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, shareholders of Neenah will receive 1.358 shares of SWM common stock for each share of Neenah common stock owned.

Following the closing of the transaction, SWM shareholders will own approximately 58% of the combined company, and Neenah shareholders will own approximately 42% of the combined company.

This transaction brings together two organisations with complementary technologies, geographies and product portfolios in speciality...

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