Sealed Air (SEE) Climbs 18% on Takeover Bid

We not too long ago printed 10 Market Movers That Made Millionaires in a Week. Sealed Air Corp. (NYSE:SEE) is without doubt one of the best-performing shares of the previous buying and selling week.

Sealed Air noticed its share costs leap by 18.09 p.c week-on-week as investor sentiment was fueled by studies that it’s set to be acquired by funding agency Clayton, Dubilier, and Rice (CD&R).

A report by the Wall Avenue Journal mentioned Wednesday that the 2 firms at the moment are underway negotiations for the potential merger which may see the break up of Sealed Air Corp.’s (NYSE:SEE) meals packaging and protecting packaging companies.

In different information, Sealed Air Corp. (NYSE:SEE) earlier this month introduced a powerful earnings efficiency within the third quarter of the 12 months, having incurred a 109.4 p.c leap in internet revenue at $186 million versus solely $89 million in the identical interval final 12 months, primarily pushed by a $57 million particular gadgets revenue.

Internet gross sales, nevertheless, ended flat at $1.3 billion as a 1 p.c development within the meals packaging phase was offset by the 1 p.c dip within the protecting packaging unit. Volumes and costs additionally decreased by 1 p.c in the course of the interval.

Sealed Air (SEE) Climbs 18% on Takeover Bid

On December 19, widespread shareholders of Sealed Air Corp. (NYSE:SEE) as of December 5 file are set to obtain 20 cents price of dividends as a part of the corporate’s quarterly dividend distribution.

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Disclosure: None. This text is initially printed at Insider Monkey.