After The Wall Street Journal reported that buyout firm Clayton Dubilier & Rice is in advanced talks to take Sealed Air (SEE) private, Jefferies analyst Philip Ng said the timing of the news “isn’t shocking” with the Protective business stabilizing the last two quarters and an activist investor taking a position. The firm, which says it could see a take-out price “in the mid-$40s or higher,” keeps a Hold rating and $40 price target on Sealed Air shares, which are up $6.81, or 19%, to $43.20 in morning trading.
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