Jefferies is "Incrementally" More Positive on Sealed Air Corp.

Jefferies reports that while it is not overly negative on the transaction like the market, “we believe Diversey is not an ideal fit and Sealed Air Corporation SEE certainly paid a full multiple.” “That said, we are incrementally more positive on the stock, noting that the transaction should be accretive and it will certainly earn a better return than stockpiling its cash,” Jefferies writes. Sealed Air Corporation closed Wednesday at $23.84.