Packaging materials company Sealed Air has agreed to be acquired by Clayton, Dubilier & Rice for $10.3bn in an all-cash deal. The transaction is expected to close in mid-2026, making Sealed Air privately held and delisted from NYSE. Shareholders will receive $42.15 per share. The deal includes a “go-shop” provision for alternative bids.

Funds affiliated with CD&R will provide equity financing, while a group led by major banks will provide debt financing for the acquisition. Sealed Air designs and supplies packaging materials across various sectors, including food and medical. The company generated $5.4bn in sales in 2024 and employs 16,400 people worldwide. CD&R aims to support Sealed Air’s growth and product portfolio.

Sealed Air’s board chairman expressed confidence in the transaction, stating it delivers significant value to shareholders and enables the company to pursue its long-term strategic vision. The deal allows for a 30-day “go-shop” period and up to 15 days for negotiation with potential bidders. CD&R looks forward to partnering with Sealed Air’s leadership team to drive continued investment and growth.

Read more at Yahoo Finance: Sealed Air agrees $10.3bn takeover by CD&R