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Stock Market & Financial Investment News

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February 4, 2014
07:35 EDTSEE, GRASealed Air completes settlement of W. R. Grace bankruptcy case
Sealed Air (SEE) announced it has completed the material remaining conditions of the previously disclosed settlement agreement with the committees appointed to represent asbestos claimants in the bankruptcy case of W. R. Grace (GRA). This agreement was approved by order of the U.S. Bankruptcy Court for the District of Delaware on June 27, 2005. Pursuant to the terms of the Settlement agreement, Cryovac, a wholly owned subsidiary of Sealed Air, fulfilled its obligation with payments to asbestos claims trusts in the aggregate amount of $930M cash and 18M shares of Sealed Air common stock. The company said, "We will no longer incur interest on the settlement, which amounted to $48M in 2013. Additionally, we anticipate meaningful cash tax benefits over the next several years that will provide cash that we can use to continue to add value to our business.
News For SEE;GRA From The Last 14 Days
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July 23, 2014
10:47 EDTSEESealed Air to relocate headquarters to North Carolina from New Jersey
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06:03 EDTGRAW.R. Grace sees FY14 adjusted EBIT $620M-$640M
Sees FY14 adjusted EBITDA $760M-$780M
06:02 EDTGRAW.R. Grace reports Q2 adjusted EPS $1.22, consensus $1.16
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July 16, 2014
08:21 EDTGRAW.R. Grace weakness creates buying opportunity, says KeyBanc
KayBanc believes that W.R. Grace's underperformance since emerging from bankruptcy has created a buying opportunity. The firm expects the company's EPs growth to accelerate to double digit percentage levels in 2H14. The firm thinks the company could report stronger than expected Q2 results.

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