------------------------------
OMB APPROVAL
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OMB Number: 3235-0145
Expires: October 31, 2002
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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
---------------------------
SCHEDULE 13G
(Section 240.13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO SECTIONS 240.13d-1(b), (c) and(d) AND AMENDMENTS THERETO FILED
PURSUANT TO SECTION 240.13d-2
(Amendment No. 1)1
Sealed Air Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Series A Convertible Preferred Shares, par value $0.10 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
81211K209
- --------------------------------------------------------------------------------
(CUSIP Number)
December 31, 2001
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
| | Rule 13d-1(b)
|X| Rule 13d-1(c)
| | Rule 13d-1(d)
- --------
1 The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act")or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 443,700
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
443,700
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,700
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.5 %
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
PN
- -------------===================================================================
Page 2 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners, L.P.
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 460,170
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
460,170
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
460,170
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.5 %
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
PN
- -------------===================================================================
Page 3 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 99,200
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
99,200
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
99,200
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.3 %
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
PN
- -------------===================================================================
Page 4 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners III, L.P.
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 80,417
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
80,417
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
80,417
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.3 %
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
PN
- -------------===================================================================
Page 5 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 32,485
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
32,485
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,485
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.1 %
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
PN
- -------------===================================================================
Page 6 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Management, L.L.C.
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 696,129
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
696,129
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
696,129
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.3 %
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IA, OO
- -------------===================================================================
Page 7 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,115,972
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,115,972
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,115,972
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.7 %
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
OO
- -------------===================================================================
Page 8 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
McDonald Capital Investors, Inc.
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES 395,820
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 395,820
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,207,921
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.3 %
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
CO, IA
- -------------===================================================================
Page 9 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Enrique H. Boilini
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Argentina
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 10 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David I. Cohen
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 11 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph F. Downes
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 12 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 13 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Andrew B. Fremder
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 14 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 15 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Monica R. Landry
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 16 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 17 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 18 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Meridee A. Moore
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 19 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 20 of 27 Pages
13G
====================
CUSIP No. 81211K209
====================
- -------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mark C. Wehrly
- -------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an
aggregate of 2,207,921 Preferred Shares, which is 7.3%
of the class of securities.
- -------------===================================================================
3 SEC USE ONLY
- -------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
-----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,812,101
-----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
-----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,812,101
- ------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,812,101
- -------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
- -------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.0%
- -------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
- -------------===================================================================
Page 21 of 27 Pages
Item 1. Issuer
(a) Name of Issuer:
---------------
Sealed Air Corporation (the "Company")
(b) Address of Issuer's Principal Executive Offices:
------------------------------------------------
Park 80 East, Saddle Brook, NJ 07663-5291
Item 2. Identity And Background.
-----------------------
Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
----------------------------------------------------------------
This statement relates to shares of Series A Convertible Preferred Stock,
par value $0.10 per share, (the "Preferred Shares") of the Company. The CUSIP
number of the Preferred Shares is 81211K209.
Name Of Persons Filing, Address Of Principal Business Office And
-----------------------------------------------------------------
Citizenship (Item2(a), (b) and (c))
-----------------------------------
This statement is filed by the entities and persons listed below, all of
whom together are referred to herein as the "Reporting Persons." All of such
persons other than McDonald (as defined below) are referred to herein as the
"Farallon Reporting Persons."
The Partnerships
----------------
(i) Farallon Capital Partners, L.P., a California limited
partnership ("FCP"), with respect to the Preferred Shares
held by it;
(ii) Farallon Capital Institutional Partners, L.P., a California
limited partnership ("FCIP"), with respect to the Preferred
Shares held by it;
(iii)Farallon Capital Institutional Partners II, L.P., a
California limited partner ship ("FCIP II"), with respect to
the Preferred Shares held by it;
(iv) Farallon Capital Institutional Partners III, L.P., a
Delaware limited partner ship ("FCIP III"), with respect to
the Preferred Shares held by it; and
(v) Tinicum Partners, L.P., a New York limited partnership
("Tinicum"), with respect to the Preferred Shares held by
it.
FCP, FCIP, FCIP II, FCIP III and Tinicum are together referred to herein as
the "Partner ships."
Page 22 of 27 Pages
The Management Company
----------------------
(vi) Farallon Capital Management, L.L.C., a Delaware limited
liability company (the "Management Company"), with respect
to the Preferred Shares held by certain accounts managed by
the Management Company (the " Farallon Managed Accounts")2.
The General Partner Of The Partnerships
---------------------------------------
(vii)Farallon Partners, L.L.C., a Delaware limited liability
company which is the general partner of each of the
Partnerships (the "General Partner"), with respect to the
Preferred Shares held by each of the Partnerships.
McDonald Capital Investors, Inc.
------------------------------
(viii) McDonald Capital Investors, Inc., a California corporation
("McDonald"), with respect to Preferred Shares held by
certain accounts managed by McDonald (the "McDonald Managed
Accounts") and, as an adviser to the Management Company and
the General Partner, with respect to the Pre ferred Shares
held by the Farallon Managed Accounts and by each of the
Partnerships.
The Managing Members Of The General Partner And The Management Company
----------------------------------------------------------------------
(ix) The following twelve persons who are managing members of
both the General Partner and the Management Company, with
respect to the Preferr ed Shares held by the Partnerships
and the Farallon Managed Accounts: Enrique H. Boilini
("Boilini"), David I. Cohen ("Cohen"), Joseph F. Downes
("Downes"), William F. Duhamel ("Duhamel"), Andrew B.
Fremder ("Fremder"), Richard B. Fried ("Fried"), Monica R.
Landry ("Landry"), William F. Mellin ("Mellin"), Stephen L.
Millham ("Millham"), Meridee A. Moore ("Moore"), Thomas F.
Steyer ("Steyer") and Mark C. Wehrly ("Wehrly").
Boilini, Cohen, Downes, Duhamel, Fremder, Fried, Landry, Mellin, Millham,
Moore, Steyer and Wehrly are together referred to herein as the "Individual
Reporting Persons."
The citizenship of each of the Partnerships, the General Partner, the
Management Company and McDonald is set forth above. Each of the Individual
Reporting Persons is a United States citizen other than Enrique H. Boilini who
is an Argentinean citizen.
- --------
2 Of the Preferred Shares reported by the Management Company on behalf of
the Farallon Managed Accounts, 20,162 Preferred Shares (equal to approximately
0.07 % of the total Preferred Shares currently outstanding) are held by The
Absolute Return Fund of The Common Fund, a non- profit corporation whose
principal address is 450 Post Road East, Westport, Connecticut 06881.
Page 23 of 27 Pages
The address of the principal business office of each of the Reporting
Persons other than Enrique Boilini and McDonald is c/o Farallon Capital
Management, L.L.C., One Maritime Plaza, Suite 1325, San Francisco, California
94111. The address of Enrique Boilini is c/o Farallon Capital Management,
L.L.C., 75 Holly Hill Lane, Greenwich, Connecticut 06830. The address of
McDonald is c/o McDonald Capital Investors Inc., One Maritime Plaza, Suite 1300,
San Francisco, California 94111.
Andrew J. McDonald, a U.S. citizen ("Andrew McDonald"), serves as President
and Director of McDonald. Trent H. McDonald, a U.S. citizen ("Trent McDonald"),
serves as Vice President and Director of McDonald. Andrew McDonald and Trent
McDonald together own the majority of the voting stock of McDonald. The address
of both such individuals is c/o McDonald Capital Investors, Inc., One Maritime
Plaza, Suite 1300, San Francisco, California 94111. Neither individual is the
beneficial owner of any Preferred Shares not reported herein by McDonald.
Item 3. If This Statement Is Filed Pursuant To Sections 240.13d-1(b) or
--------------------------------------------------------------------
240.13d-2(b) or (c), Check Whether The Person Filing Is An Entity
-----------------------------------------------------------------------
Specified in (a) - (j):
-----------------------
Not Applicable.
If This Statement Is Filed Pursuant To Section 240.13d-1(c), Check This
-----------------------------------------------------------------------
Box. [X]
----
Item 4. Ownership
---------
The information required by Items 4(a) - (c) and set forth in Rows 5
through 11 of the cover page for each Reporting Person hereto is incorporated
herein by reference for each such Reporting Person.
The Preferred Shares reported hereby for the Partnerships are owned
directly by the Partnerships and those reported by the Management Company on
behalf of the Farallon Managed Accounts are owned directly by the Farallon
Managed Accounts. The General Partner, as general partner to the Partnerships,
may be deemed to be the beneficial owner of all such Preferred Shares owned by
the Partnerships. The Management Company, as investment adviser to the Farallon
Managed Accounts, may be deemed to be the beneficial owner of all such Preferred
Shares owned by the Farallon Managed Accounts. McDonald, as an adviser to the
Management Company and the General Partner with respect to the Preferred Shares,
may be deemed to be the beneficial owner of all such Preferred Shares held by
the Farallon Managed Accounts and each of the Partnerships. McDonald, as
investment adviser to the McDonald Managed Accounts, may be deemed to be the
beneficial owner of all such Preferred Shares owned by the McDonald Managed
Accounts. The Individual Reporting Persons, as managing members of both the
General Partner and/or the Management Company, may each be deemed to be the
beneficial owner of all such Preferred Shares held by the Partnerships and the
Farallon Managed Accounts. Each of the Management Company, the General Partner,
McDonald and the Individual Reporting Persons hereby disclaims any beneficial
ownership of any such Preferred Shares.
Page 24 of 27 Pages
Item 5. Ownership Of Five Percent Or Less Of A Class
--------------------------------------------
Not Applicable.
Item 6. Ownership Of More Than Five Percent On Behalf Of Another Person
---------------------------------------------------------------
Not Applicable.
Item 7. Identification And Classification Of The Subsidiary Which Acquired The
-----------------------------------------------------------------------
Security Being Reported On By The Parent Holding Company
--------------------------------------------------------
Not Applicable.
Item 8. Identification And Classification Of Members Of The Group
---------------------------------------------------------
The Reporting Persons are filing this Schedule 13G pursuant to Rule
13d-1(c). Consistent with Item 2 of the cover page for each Reporting Person
above, (i) the Farallon Reporting Persons neither disclaim nor affirm the
existence of a group among them and (ii) the Farallon Reporting Persons and
McDonald neither disclaim nor affirm the existence of a group between such
persons and McDonald.
Item 9. Notice Of Dissolution Of Group
------------------------------
Not Applicable.
Item 10. Certification
--------------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
Page 25 of 27 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: February 7, 2001
/s/ Thomas F. Steyer
----------------------------------------
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
And TINICUM PARTNERS, L.P.,
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
----------------------------------------
Thomas F. Steyer, individually and as
attorney-in-fact for each of Enrique H. Boilini,
David I. Cohen, Joseph F. Downes, William F. Duhamel,
Andrew B. Fremder, Richard B. Fried, Monica R. Landry,
William F. Mellin, Stephen L. Millham, Meridee A. Moore
and Mark C. Wehrly.
/s/ Andrew J. McDonald
----------------------------------------
MCDONALD CAPITAL INVESTORS INC.
By: Andrew J. McDonald, President
The Powers of Attorney, each executed by Boilini, Cohen, Downes, Fremder,
Mellin, Millham and Moore authorizing Steyer to sign and file this Schedule 13G
on each person's behalf, which were filed with Amendment No. 1 to the Schedule
13D filed with the Securities and Exchange Commission on September 26, 1997, by
such Reporting Persons with respect to the Common Stock of Sphere Drake Holdings
Limited, are hereby incorporated by reference. The Powers of Attorney executed
by Duhamel and Fried authorizing Steyer to sign and file this Schedule 13G on
each person's behalf, which were filed with Amendment No. 1 to the Schedule 13D
filed with the Securities and Exchange Commission on January 13, 1999, by such
Reporting Persons with respect to the Callable Class A Common Shares of
CliniChem Development Inc., are hereby incorporated by reference. The Power of
Attorney executed by Mark C. Wehrly authorizing Steyer to sign and file this
Schedule 13G on his behalf, which was filed with Amendment No. 2 to the Schedule
13D filed with the Securities and Exchange Commission on January 10, 2000, by
such Reporting Person with respect to the Common Shares of Axogen
Page 26 of 27 Pages
Limited, is hereby incorporated by reference. The Power of Attorney executed by
Monica R. Landry authorizing Steyer, as well as Downes and Cohen, to sign and
file this Schedule 13G on her behalf, which was filed with the Schedule 13G
filed with the Securities and Exchange Commission on January 22, 2001, by such
Reporting Person with respect to the Common Stock of Korn/Ferry International is
hereby incorporated by reference.
Page 27 of 27 Pages