Sealed Air to proceed with CD&R buyout as go-shop period ends

US-based packaging producer Sealed Air has confirmed that the 30-day 'go-shop' period linked to its agreed sale to funds affiliated with Clayton, Dubilier & Rice (CD&R) has expired. The update follows a definitive agreement entered in November, under which CD&R’s affiliated funds will acquire all outstanding shares of Sealed Air’s common stock for $42.15 each. The all-cash deal places an enterprise value of $10.3bn on the packaging manufacturer. The go-shop window closed at 11:59pm Eastern Time on 16 D ...