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.
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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 December 2025.
During this period, and acting on instructions from Sealed Air’s board, the company’s financial adviser Evercore approached 29 potential bidders, comprising seven strategic groups and 22 private equity company.
Six of these parties signed confidentiality agreements and were given access to nonpublic information.
At the close of the process, no bidder met the criteria to be considered an ‘excluded party’ under the merger agreement.
With the expiry of the go-shop phase, Sealed Air is now subject to standard no-shop restrictions, with specified exceptions that include customary ‘fiduciary out’ provisions.
The transaction is expected to be completed in mid-2026, subject to shareholder approval, regulatory approvals and other customary closing conditions.
Once finalised, Sealed Air will become a privately held company, and its shares will be removed from the New York Stock Exchange.
The business will remain headquartered in Charlotte, North Carolina.
Evercore acted as Sealed Air’s exclusive financial adviser while Latham & Watkins was legal counsel.
Earlier this month, Sealed Air named Russell Grissett as global food president.
Grissett moves to Sealed Air from TOPPAN Packaging Americas, where he was president and CEO and led the separation and integration of Sonoco’s flexible packaging operations following TOPPAN’s $1.8bn purchase of the business.
