Sealed Air to Go Private in $10.3 Billion CD&R Deal at $42.15 a Share

Overview

• Shareholders would receive $42.15 in cash per share, valuing the Bubble Wrap maker at roughly $10.3 billion including debt.
• Sealed Air’s board unanimously approved the agreement and permitted a 30‑day solicitation period plus up to 15 days to negotiate with any qualified bidder.
• Shares fell about 3% after the announcement as the offer trails some analyst targets, including $46 at Wells Fargo and $45 at Truist.
• Evercore is advising Sealed Air on the transaction with Latham & Watkins as legal counsel, and the company expects to be delisted once the deal closes.
• Shareholder-rights firms Wohl & Fruchter and Johnson Fistel opened investigations into the sale’s fairness and the board’s process.