Private equity powerhouse Clayton, Dubilier & Rice (CD&R) has struck an agreement to acquire Sealed Air Corp., the global packaging giant behind household names like Bubble Wrap and Cryovac, in a blockbuster deal valued at $10.3 billion. The transaction, guided by three major law firms, marks one of the year’s most closely watched corporate shake-ups.
A Trio of Law Firms Steers the Mega-Deal
In Monday’s announcement, Sealed Air revealed that Latham & Watkins LLP is advising the company, while Kirkland & Ellis LLP and Debevoise & Plimpton LLP are representing CD&R. Together, these firms are navigating a transaction that is already rippling through the packaging industry like a shockwave through Bubble Wrap itself.
Premium Price for Shareholders, Market Reacts
Under the agreement, Sealed Air shareholders will receive $42.15 per share in cash—a 41% premium over the company’s unaffected stock price as of Aug. 14. Despite the premium, Sealed Air’s stock slipped more than 3% Monday morning, reflecting market caution amid large-scale buyouts.
