Sealed Air agrees $10.3bn takeover by CD&R

Sealed Air has agreed to beryllium acquired by funds affiliated with backstage equity institution Clayton, Dubilier & Rice (CD&R) successful an all-cash transaction valuing the packaging materials institution astatine $10.3bn.

The deal, approved by Sealed Air’s board, is expected to adjacent successful mid-2026.

Sealed Air volition go privately held, clasp its office successful Charlotte, North Carolina, and beryllium delisted from the New York Stock Exchange.

Sealed Air committee president Henry Keizer stated: “After cautious reappraisal of strategical alternatives implicit the past year, the committee is assured that this transaction delivers important worth and is successful the champion interests of our stockholders and the company.

“Furthermore, this transaction represents a realisation of contiguous and definite worth for Sealed Air stockholders astatine a important premium and enables the institution to execute its semipermanent strategical vision.”

Under the agreement, US packaging manufacturer’s shareholders volition person $42.15 per stock successful cash.

The statement provides a 30-day "go-shop" to solicit alternate bids, positive up to 15 further days to negociate with qualified bidders.

Equity financing volition beryllium provided by CD&R-affiliated concern funds.

Debt financing has been committed by a radical led by BofA Securities, BNP Paribas Securities, Goldman Sachs, JP Morgan Securities, UBS Investment Bank and Wells Fargo.

Additional commitments person been made by Citi, Mizuho and RBC Capital Markets.

Sealed Air designs and supplies packaging materials, instrumentality and services crossed the food, medical, e-commerce and concern sectors.

The company, known for bubble wrap, generated $5.4bn successful income successful 2024 and employs 16,400 radical globally.

CD&R spouse Rob Volpe stated: “We are committed to supporting Sealed Air’s continued concern successful its people, assets and merchandise portfolio. We person large respect for Sealed Air’s elder enactment team, and look guardant to partnering with them.”

"Sealed Air agrees $10.3bn takeover by CD&R " was primitively created and published by Packaging Gateway, a GlobalData owned brand.

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