Simpson Thacher Reps Sealed Air In $2.9B Diversey Buy

Law360, New York (June 1, 2011, 1:56 PM EDT) -- Bubble Wrap-maker Sealed Air Corp. said Wednesday it would acquire Diversey Holdings Inc. for $2.9 billion in cash and equities in a deal that would give it a doorway into the estimated $40 billion chemical cleaning and hygiene industry.

New Jersey-based Sealed Air, a specialty packaging company that gets more than 60 percent of its business from the food industry, plans to pay $2.1 billion in cash and 31.7 million shares of Sealed Air common stock, valued at $25.68 per share, for a total of $2.9...
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