Berry Global Group Inc (BERY) and Glatfelter (GLT) said late Tuesday that record date of Nov. 1 has been set for the date of the spin-off of Berry's health, hygiene, nonwovens, and films business, which is expected to merge with Glatfelter on Nov. 4.

In connection with the merger, Glatfelter will undergo a reverse stock split and change its name to Magnera, the company said.

On Nov. 4, Berry will distribute all shares of stock of the spun-off subsidiary to its shareholders as of Nov. 1 before merging with Magnera.

Berry stockholders are expected to own about 90% of Magnera shares.