Simpson Thacher is representing Polymer Group, Inc. ("PGI"), a portfolio business of the Blackstone Group and one of the world’s leading producers of nonwoven materials, in connection with its recommended cash offer to acquire the entire issued share capital of Fiberweb plc (“Fiberweb”) which was announced on September 7, 2013. Fiberweb is listed on the London Stock Exchange and the transaction is governed by the UK Takeover Code. The offer values the entire issued and to be issued ordinary share capital of Fiberweb, including the right to receive and retain the Fiberweb interim dividend of 1.2 pence per Fiberweb share, at approximately £182.5 million. The transaction is expected to be completed by way of Court-approved scheme of arrangement under the UK Companies Act.
Fiberweb is a leading designer and manufacturer of industrial textiles, and specializes in flexible crop and tree protectors, building insulation and flood defenses.
The Simpson Thacher team includes Adam Signy, Neil Evans, Christina Barnsley, Bim Afolami and Jamie Rowles (U.K. M&A); Antti Pesonen (U.K. Credit); Randy Benjenk (U.S. M&A); Alden Millard, Brian Gluck, Daniel Kay and Ryan Song (U.S. Credit); Ed Tolley, Brian Rosenzweig and William Allen (U.S. Capital Markets); Joyce Xu, Bennett Surajat and Elizabeth Muscarella (U.S. Derivatives); Joe Tringali and Ellen Frye (Antitrust); Gary Mandel, Sean FitzGerald and Sophie Staples (Tax); Greg Grogan, Jeannine McSweeney and Brittany McCants (Executive Compensation and Employee Benefits); Adeeb Fadil and Noreen Lavan (Environmental); Krista McManus and Alison Fagen (Real Estate); and Noah Leibowitz and Samantha Himelman (Intellectual Property).