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The Associated Press June 27, 2011, 9:42AM ET

Feds terminate waiting period for Sealed Air deal

Sealed Air Corp. said Monday that the U.S. Federal Trade Commission and the U.S. Department of Justice granted early termination of the antitrust waiting period related to its proposed acquisition of Diversey Holdings Inc.

On June 1, the packaging company said it had agreed to buy Diversey in a deal worth about $4.3 billion.

Diversey, a privately held cleaning and hygiene company based in Sturtevant, Wis., has industrial and retail customers in the food and beverage, health care, lodging and building services businesses in more than 60 countries. It generated $3.1 billion in revenue in 2010.

The sale is still subject to customary closing conditions including certain foreign regulatory approvals, Sealed Air said.

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