Sealed Air Corp. of Elmwood Park, N.J., has entered into a definitive agreement to acquire Sturtevant-based Diversey Holdings Inc., a solutions provider to the global cleaning and sanitization market, in a transaction valued at $4.3 billion.
The transaction is expected to be completed later this year.
Under the terms of the agreement, Diversey shareholders will receive $2.1 billion in cash and an aggregate of 31.7 million shares of Sealed Air common stock valued at $25.68 per share based on Sealed Air's closing stock price on May 31, for a total equity consideration of $2.9 billion. Diversey is a privately-owned company, controlled by members of the Johnson family and Clayton, Dubilier & Rice, LLC ("CD&R"). Upon closing of the transaction, Diversey shareholders are expected to own approximately 15 percent of Sealed Air common stock.
Diversey provides cleaning, sanitization and hygiene solutions to industrial and retail customers in the food and beverage, food service, health care, and lodging sectors, as well as to building service contractors worldwide. In 2010, Diversey generated net sales of $3.1 billion. Diversey employs more than 10,000 people worldwide and operates in more than 60 countries.
"This transaction represents a strategic growth opportunity that leverages Sealed Air's core competencies and positions our company to further capitalize on the megatrends that drive both businesses," said William Hickey, president and chief executive officer of Sealed Air. "With Diversey, we will expand our footprint beyond specialty packaging solutions by gaining entry into a $40+ billion chemical cleaning and hygiene industry

More at source: Biz Times

PARIS, TX (KLTV) - According to East Texas Radio, 22-year-old Randy Stephen Motter is arrested and charged with improper visual or photo recording.

The Paris Police Department began an investigation after faculty members of a Paris ISD school reported feeling like they were being watched in private areas of the school.

More at source: ABC

A janitor cleaning up in the back shop of Moncton's Taylor Ford & Lincoln dealership on Lewisville Road is credited with preventing what could have been a disastrous fire had it gone undetected for long. John McElmon said he first noticed smoke and then flames inside an exterior wall of the automotive shop.

More at source: Times Transcript

The federal Drug Enforcement Agency used to dole out $10 million nationwide to states for the service — cleaning up one meth lab can cost between $2000 and ...

More at source: Free Times

The workers, aged 64, 57 and 23, were cleaning toilets at Imperial Docks in Leith when one of them started having breathing problems.

A fire service spokeswoman said he was treated at the scene for respiratory problems, and a second man also appeared to be overcome by the fumes.

More at source: BBC

A CLEANING company that covers crime, commercial and domestic situations has expanded its offering in a bid to double in size this year.

The company, owned by Jayne and Mark Davison, has expanded to incorporate a 24 hour call out system and maintenance department.

The move will not only benefit current and new clients, it also supports the local economy by seeing AC Cleaning create business for at least 10 one-man bands in the maintenance industry, including electricians, plumbers, locksmiths and joiners.

More at source: UK Business

NEW YORK - Dominique Strauss-Kahn hired all-male cleaning staff to do his dirty work at his New York townhouse, where he is awaiting trial for allegedly forcing himself on a female hotel maid, the New York Post reported Tuesday.

Instead of sexy French maids, the former International Monetary Fund chief -- once considered a front-runner for the French presidency -- will have his needs tended to by blue-collar men who look like plumbers.

More at source: Fox

Residents of rural communities in Eaton and Ing-ham counties spent their Memorial Day clearing debris left strewn about their yards and roads in the aftermath of a severe storm that swept through the area Sunday evening. The storm, which cut power to more than 25,000 homes and businesses in the Lansing region, destroyed a home in Eaton Rapids Township and at least two barns in eastern Ingham County. And at least two families in Delta Township were forced out of their homes due to flooding.

More at source: LSJ

Enterprises, Inc. to its growing list of commercial distributors, making its PerfPower™ Alkaline Batteries with free recycling available immediately through Paper Enterprises, Inc., a leading regional distributor supplying paper disposables and janitorial products to customers from New Haven, CT to Philadelphia, PA for over fifty years. PerfPower products will be represented at a June 5-6, 2011 Business Builder Show for resellers, organized by The Consolidated Paper, a division of Paper Enterprises, Inc., for its customers and suppliers and expected to generate immediate interest in PerfPower batteries. In advance of expected sales, Paper Enterprises has ordered and received substantial inventory of PerfPower batteries.

More at source: Sys-Con

A man fired several shotgun blasts Tuesday morning inside a closed restaurant in Hopkins, hitting cash registers but sparing the cleaning crew inside, police said.

The shooting occurred shortly after 8 a.m. at Lindee's Saloon & Eatery along Hwy. 7, just east of Hwy. 169, according to police.

More at source:Star Tribune