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

Core Viewpoint - Sealed Air has confirmed the expiration of the 30-day 'go-shop' period related to its sale to funds affiliated with Clayton, Dubilier & Rice (CD&R), with the transaction valued at $10.3 billion [1][3]. Group 1: Transaction Details - The definitive agreement for the acquisition was made in November, with CD&R's affiliated funds set to acquire all outstanding shares of Sealed Air's common stock for $42.15 each [1]. - The go-shop period closed at 11:59 PM Eastern Time on December 16, 2025, during which Sealed Air's financial adviser, Evercore, approached 29 potential bidders [2]. - Six parties signed confidentiality agreements and accessed nonpublic information, but none met the criteria to be considered an 'excluded party' under the merger agreement [2]. Group 2: Post-Transaction Status - With the end of the go-shop phase, Sealed Air is now under standard no-shop restrictions, with exceptions for customary 'fiduciary out' provisions [3]. - The transaction is expected to be completed in mid-2026, pending shareholder and regulatory approvals [3]. - Upon completion, Sealed Air will become a privately held company, and its shares will be delisted from the New York Stock Exchange [3]. Group 3: Company Developments - Sealed Air will maintain its headquarters in Charlotte, North Carolina [4]. - Evercore served as Sealed Air's exclusive financial adviser, while Latham & Watkins acted as legal counsel [4]. - Recently, Sealed Air appointed Russell Grissett as global food president, who previously led TOPPAN Packaging Americas [4].