Paper maker

Glatfelter

(GLT) - Get Report

said its agreement to acquire the J R Crompton Simpson Clough mill in the U.K. was terminated as the Crompton administrators required additional time for regulatory review.

Glatfelter said its buy of Crompton's Lydney mill remains under review by the European Commission. The company believes that this transaction complies with European competition law.

"We are obviously disappointed with the outcome of the acquisition of the Simpson Clough facility," Glatfelter said. "We remain committed to delivering the high quality products and services expected by our customers served by the Lydney mill."

The York, Pa.-based company's shares dropped 74 cents to $14.70.

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