Tags: Sealed Air | Diversey Holdings

Sealed Air to Buy Diversey Holdings for $2.9 Billion

Wednesday, 01 Jun 2011 08:43 AM

Packaging company Sealed Air Corp. has agreed to buy the privately-held Diversey Holdings Inc. for about $2.9 billion in cash and stock.

Diversey is a cleaning and sanitation company headquartered in Sturtevant, Wis. It generated $3.1 billion in revenue in 2010, employs 10,000 people and operates in more than 60 countries.

The companies said Wednesday that Sealed Air will pay Diversey shareholders $2.1 billion in cash and 31.7 million shares of stock worth $814 million at Tuesday's closing price for Sealed Air.

Sealed Air is based in Elmwood Park, N.J. Including debt, the companies say the deal is worth $4.3 billion.

The deal is expected to be completed in 2011.

At closing, Diversey shareholders will own about 15 percent of Sealed Air common stock.

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Packaging company Sealed Air Corp. has agreed to buy the privately-held Diversey Holdings Inc. for about $2.9 billion in cash and stock. Diversey is a cleaning and sanitation company headquartered in Sturtevant, Wis. It generated $3.1 billion in revenue in 2010, employs...
Sealed Air,Diversey Holdings
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2011-43-01
Wednesday, 01 Jun 2011 08:43 AM
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