<PAGE>
------------------------------
OMB APPROVAL
------------------------------
OMB Number: 3235-0145
Expires: October 31, 2002
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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. ___________)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)
August 11, 2000
--------------------------------------------------------------------------------
(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
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 336,400
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
336,400
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
336,400
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.0 %
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
PN
-------------===================================================================
Page 2 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 360,470
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
360,470
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
360,470
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.1 %
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
PN
-------------===================================================================
Page 3 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 81,600
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
81,600
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,600
-------------===================================================================
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
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 62,817
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
62,817
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
62,817
-------------===================================================================
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
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 28,385
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
28,385
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
28,385
-------------===================================================================
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
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 519,329
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
519,329
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
519,329
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.6 %
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IA, OO
-------------===================================================================
Page 7 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 869,672
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
869,672
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
869,672
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.7 %
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
OO
-------------===================================================================
Page 8 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% of the class of
securities.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
------------------------------------============================================
NUMBER OF 5 SOLE VOTING POWER
SHARES 233,420
----------============================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 233,420
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,622,421
-------------===================================================================
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
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 12 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 13 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 14 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 15 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 16 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 17 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 18 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 19 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 20 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 21 of 27 Pages
<PAGE>
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 1,622,421 Preferred Shares, which is 5.0% 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 1,389,001
----------============================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
----------============================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,389,001
------------------------------------============================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,389,001
-------------===================================================================
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3%
-------------===================================================================
12 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 22 of 27 Pages
<PAGE>
<PAGE>
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 23 of 27 Pages
<PAGE>
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 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 eleven persons who are managing members of both the
General Partner and the Management Company, with respect to the
Preferred 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"), 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, Mellin, Millham,
Moore, Steyer andWehrly 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.
--------
2Of the Preferred Shares reported by the Management Company on behalf
of the Farllon Managed Accounts, 17,962 Preferred Shares (equal to
approximately 0.06 % 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 24 of 27 Pages
<PAGE>
<PAGE>
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 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 beneficialowner 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 25 of 27 Pages
<PAGE>
<PAGE>
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 26 of 27 Pages
<PAGE>
<PAGE>
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: August 31, 2000
----------------------------------------
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
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Thomas F. Steyer,
Senior Managing Member
----------------------------------------
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, William F. Mellin,
Stephen L. Millham, Meridee A. Moore and Mark C. Wehrly.
----------------------------------------
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 Limited, is
hereby incorporated by reference.
Page 27 of 27 Pages
