Bubble Wrap maker Sealed Air to go private in $10.3 billion CD&R deal

By Aishwarya Jain (Reuters) -U.S. packaging company Sealed Air Corp said on Monday it agreed to be bought by private equity firm CD&R for $10.3 billion, including debt, in a deal that will take the company off the stock market. Under the agreement, Sealed Air shareholders will receive $42.15 in cash per share, a nearly 13% premium to its closing price on November 11. Sealed Air, which was founded in 1957 as an experiment in interior design, is best known for its protective packaging material, Bubble Wrap. Last week, news outlet Semafor reported that activist investor Ancora, which holds more than 2% of Sealed Air as per data compiled by LSEG, had been pressuring the company to pursue a sale. "CD&R's partnership will enhance our ability to invest in growing our Food and Protective businesse