Sealed Air (SEE) Shares Drop Amid $10.3B Take-Private Deal with CD&R
Sealed Air Corporation, the inventor of Bubble Wrap, saw its shares decline following the announcement of a $10.3 billion acquisition by private equity firm Clayton, Dubilier & Rice (CD&R). The deal offers shareholders $42.15 per share in cash, representing a 41% premium to the stock's unaffected price. The transaction marks the end of Sealed Air's 46-year run as a public company.
Leadership framed the MOVE as a strategic enabler. "CD&R's partnership will enhance our ability to invest in growing our Food and Protective businesses," said CEO Dustin Semach. The packaging specialist, founded in 1960 to commercialize protective materials, now joins the wave of companies retreating from public markets amid volatile equity conditions.