Shearman & Sterling represented the P.H. Glatfelter Company in connection with its entry into a definitive share purchase agreement with Brookfield Special Situations Management Limited, pursuant to which Glatfelter Canada Inc. will acquire all of the issued and outstanding shares of Concert Industries Corp. in a transaction valued at $235 million (C$246.5 million) in cash, subject to adjustment based on the amount of Concert's working capital at closing. The proposed transaction is subject to customary closing conditions, including receipt of German regulatory clearance. The proposed transaction is expected to close by the end of the first quarter of 2010.

P.H. Glatfelter is a global manufacturer of specialty papers and engineered products. Its U.S. operations include facilities in Spring Grove, PA ,and Chillicothe and Fremont, OH, and its international operations include facilities in Germany, France, the United Kingdom and the Philippines and a representative office in China. Concert is a leading global supplier of highly absorbent cellulose-based airlaid non-woven materials, used to manufacture a diverse range of consumer and industrial products for growing global end-use markets, including feminine hygiene and adult incontinence products, specialty wipes and food pads.

The principal Shearman & Sterling M&A attorneys on the transaction are partner Clare O'Brien (New York), counsel Dan Litowitz (New York) and associates Sara Haskamp (New York) and Gaurav Sud (New York). Other Shearman & Sterling attorneys involved in the transaction are partners Douglas McFadyen (New York-Tax), Beau Buffier (New York-Antitrust) and Sam Waxman (New York-Intellectual Property Transactions) and associates Derek Kershaw (New York-Tax), Ethan Harris (Washington, DC-Tax), Tim Haney (New York-Antitrust) and Tim Franklin (New York-Intellectual Property Transactions).