Sealed Air to go private in $10.3 billion deal with CD&R

CD&R Lines Up $7.9 Billion Cross-Border Deal for Sealed Air

JPMorgan Chase & Co. and Bank of America Corp. are among a group of banks involved in a $7.9 billion cross-border debt financing backing Clayton Dubilier & Rice’s acquisition of Sealed Air, the packaging company best known for creating Bubble Wrap.

New Owner For Sealed Air

Sealed Sir Corp., a global provider of food and protective packaging material – including the Bubble Wrap and Cryovac brands – is being acquired by funds affiliated with private investment firm Clayton, Dubilier & Rice (CD&R) for US$10.3 billion. “After careful review of strategic alternatives over the past year, the Board is confident that this transaction delivers significant value and is in the best interests of our stockholders and the Compa…

Bubble Wrap Maker Sealed Air to Go Private in $10.3 Billion CD&R Deal

Sealed Air to go private in $10.3 billion deal with CD&R

Under the agreement, Sealed Air shareholders will receive $42.15 in cash per share, a nearly 13% premium to its closing price on November 11.

Deal Roundup: CD&R agrees $10.3bn Sealed Air buyout, TPG and La Caisse take majority stake in Pike

Clayton Dubilier & Rice has agreed a $10.3bn buyout of New York-listed Sealed Air, a provider of food and protective packaging products. The post Deal Roundup: CD&R agrees $10.3bn Sealed Air buyout, TPG and La Caisse take majority stake in Pike appeared first on AltAssets Private Equity News.

Sealed Air to go private in $10.3 billion deal

Packaging giant Sealed Air will be acquired by private equity firm CD&R in an all-cash deal valued at $10.3 billion, or $42.15 per share. That amount represents a 41% premium to Charlotte-based Sealed Air’s stock price as of Aug. 14, when shares closed at $29.84. It’s a 24% increase from the company’s 90-day volume-weighted average price as of Nov. 12, The Wall Street Journal reported Nov. 12 that Sealed Air was in talks with New York-based Clay…