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(Sharecast News) - Bubble wrap maker Sealed Air said on Monday that it has agreed to be bought by private investment firm CD&R in a $10.3bn cash deal.
Under the terms of the agreement, Sealed Air shareholders will receive $42.15 per share in cash. This is a premium of 41% to the unaffected share price as of 14 August.
Sealed Air chairman Henry R. Keizer said: "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 company.
"Furthermore, this transaction represents a realisation of immediate and certain value for Sealed Air stockholders at a substantial premium and enables the company to execute its long-term strategic vision."
Sealed Air president and chief executive Dustin Semach said the deal, which is expected to close in mid-2026, "delivers significant and derisked value to Sealed Air stockholders while accelerating our ongoing transformation".
"CD&R's partnership will enhance our ability to invest in growing our food and protective businesses while maintaining a customer-first approach. Through more rapid innovation, expanded capabilities and broader reach, we will create more value for our customers and more opportunities for our employees," he added.
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