Blackstone Capital to buy Polymer Group Inc

05 Oct '10

4 min read

The transaction will be financed through a combination of debt and equity commitments, and is not conditioned upon the consummation of such financing. Completion of the transaction is subject to certain closing conditions, including, among other things, expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and receipt of consents required under certain foreign merger control laws.

Cravath, Swaine and Moore LLP and Blackstone Advisory Partners L.P. acted as legal and financial advisor, respectively to PGI. Janney Montgomery Scott LLC acted as financial advisor to PGI's special committee and issued a fairness opinion with respect to the transaction. Richards, Layton & Finger, P.A. acted as legal advisor to PGI's special committee. Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone.

Polymer Group,Inc., one of the world's leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers.

Polymer Group Inc. (PGI)

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