The Ademi Firm is investigating Sealed Air (NYSE: SEE) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with CD&R.
In the transaction, Sealed Air shareholders will receive $42.15 in cash per share in an all-cash transaction with an enterprise value of $10.3 billion. Sealed Air insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Sealed Air by imposing a significant penalty if Sealed Air accepts a competing bid. We are investigating the conduct of the Sealed Air board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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