------------------------------
OMB APPROVAL
------------------------------
OMB Number: 3235-0145
Expires: October 31, 2002
Estimated average burden
hours per response . . . 14.90
------------------------------
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. 2)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 1,380,671 Preferred Shares, which is 5.0 % of the class
of securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
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 237,200
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
237,200
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
237,200
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.9 %
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 % of the class
of securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
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 246,470
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
246,470
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
246,470
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.9 %
-------------===================================================================
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
1,380,671 Preferred Shares, which is 5.0 % of the class of
securities. The reporting person on this cover page, however, is
a beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
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 53,100
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
53,100
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
53,100
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.2 %
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 % of the class
of securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
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 43,517
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
43,517
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
43,517
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.2 %
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 % of the class
of securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
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 17,485
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
17,485
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,485
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 % of the class
of securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
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 372,329
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
372,329
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
372,329
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.4 %
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 597,772
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
597,772
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
597,772
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.2 %
-------------===================================================================
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
1,380,671 Preferred Shares, which is 5.0 % of the class of
securities. The reporting person on this cover page, however, is
a beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES 410,570
----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 410,570
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,380,671
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0 %
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 % of the class
of securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 % of the class
of securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page. .
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 1,380,671 Preferred Shares, which is 5.0 %
of the class of securities. The reporting person on
this cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
-------------===================================================================
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 970,101
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
970,101
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,101
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.5%
-------------===================================================================
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 (Item 2(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 "Partnerships."
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").
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 Preferred 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.
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
Page 23 of 27 Pages
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 McDon ald 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.
Item 5. Ownership Of Five Percent Or Less Of A Class
--------------------------------------------
Not Applicable.
Page 24 of 27 Pages
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). Consis tent 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.
Note: The Reporting Persons filed Amendment No. 1 to this Schedule 13G on
February 7, 2001. On the first page of such amendment, the "Date of Event Which
Requires Filing of [the] Statement" was listed as December 31, 2001. It should
have been listed as December 31, 2000.
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 11, 2002
/s/ Joseph F. Downes
----------------------------------------
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 Joseph F. Downes
Managing Member
/s/ Joseph F. Downes
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Joseph F. Downes
Managing Member
/s/ Joseph F. Downes
----------------------------------------
Joseph F. Downes, individually and as
attorney-in-fact for each of Enrique H. Boilini,
David I. Cohen, William F. Duhamel,
Andrew B. Fremder, Richard B. Fried, Monica R. Landry,
William F. Mellin, Stephen L. Millham,
Meridee A. Moore, Thomas F. Steyer
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, Fremder, Mellin,
Millham, Moore and Steyer authorizing Downes 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 20, 1998, by
such Reporting Persons with respect to the Units of Spiros Development
Corporation II, Inc., are hereby incorporated by reference. The Powers of
Attorney, each executed by Duhamel and Fried authorizing Downes to sign and file
this Schedule 13G on each person's behalf, which were filed with Amendment No. 7
to the Schedule 13D filed with the Securities and Exchange Commission on
February 9, 1999 by such Reporting Persons with respect to the Callable Class A
Common Stock of Crescendo Pharmaceuticals Corporation, are hereby incorporated
by reference. The Power of Attorney executed by Mark C. Wehrly authorizing
Downes to sign and file this Schedule 13G on his behalf, which was filed with
Amendment No. 4 to the Schedule 13D filed with the Securities and
Page 26 of 27 Pages
Exchange Commission on January 18, 2000, by such Reporting Person with respect
to the Class A Common Stock of Momentum Business Applications, Inc., is hereby
incorporated by reference. The Power of Attorney executed by Monica R. Landry
authorizing Downes, as well as Steyer 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