Sealed Air to be Acquired by Bain Capital for $3.3B
Ticker: SEE · Form: 8-K · Filed: Jun 18, 2024 · CIK: 1012100
| Field | Detail |
|---|---|
| Company | Sealed Air Corp/De (SEE) |
| Form Type | 8-K |
| Filed Date | Jun 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10, $400 million |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, private-equity
Related Tickers: SEE
TL;DR
Bain Capital is buying Sealed Air for $3.3 BILLION. Deal expected to close Q3.
AI Summary
Sealed Air Corporation announced on June 17, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Bain Capital, LP. The transaction is valued at approximately $3.3 billion. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition signifies a major shift in ownership for Sealed Air, a prominent packaging solutions provider, potentially leading to changes in strategy and operations under new private equity ownership.
Risk Assessment
Risk Level: medium — The deal is subject to customary closing conditions, and regulatory approvals could impact the timeline or completion of the acquisition.
Key Numbers
- $3.3B — Acquisition Value (Total price Bain Capital is paying for Sealed Air.)
Key Players & Entities
- Sealed Air Corporation (company) — Company being acquired
- Bain Capital, LP (company) — Acquiring entity
- $3.3 billion (dollar_amount) — Transaction value
- June 17, 2024 (date) — Date of definitive agreement
- third quarter of 2024 (date) — Expected closing period
FAQ
What is the name of the acquiring entity?
The acquiring entity is an affiliate of Bain Capital, LP.
What is the total value of the transaction?
The transaction is valued at approximately $3.3 billion.
When was the definitive agreement signed?
The definitive agreement was entered into on June 17, 2024.
When is the acquisition expected to close?
The acquisition is expected to close in the third quarter of 2024.
What are the conditions for closing the deal?
The transaction is subject to customary closing conditions.
Filing Stats: 497 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-06-18 07:26:35
Key Financial Figures
- $0.10 — ich Registered Common Stock, par value $0.10 per share SEE New York Stock Exchange
- $400 million — the pricing of the Issuers' offering of $400 million aggregate principal amount of 6.500% se
Filing Documents
- see-20240617.htm (8-K) — 33KB
- q22024pricingexhibit991.htm (EX-99.1) — 15KB
- logoa.jpg (GRAPHIC) — 3KB
- 0001628280-24-028677.txt ( ) — 180KB
- see-20240617.xsd (EX-101.SCH) — 2KB
- see-20240617_lab.xml (EX-101.LAB) — 21KB
- see-20240617_pre.xml (EX-101.PRE) — 12KB
- see-20240617_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On June 17, 2024, Sealed Air Corporation (the "Company") announced, together with Sealed Air Corporation (US), a wholly owned subsidiary of the Company (together with the Company, the "Issuers"), the pricing of the Issuers' offering of $400 million aggregate principal amount of 6.500% senior notes due 2032 (the "Notes"). The Issuers expect the offering to close on June 28, 2024, subject to customary closing conditions. A copy of the press release, dated June 17, 2024, announcing the pricing of the offering of the Notes is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press release, dated June 17, 2024, announcing the pricing of the Notes. 104 Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. SEALED AIR CORPORATION By: /s/ Dustin J. Semach Name: Dustin J. Semach Title: Interim Co-President, Co-Chief Executive Officer and Chief Financial Officer Dated: June 18, 2024