#!/bin/bash
# ideone boilerplate: run in temp dir
t=$(mktemp -d -t ideone.XXXXXXXX) || exit
trap 'rm -rf "$t"' ERR EXIT
cd "$t"
cat <<\: >input.txt
there is a foo
in your bar
:
cat <<\: >test.txt
<body>
<div>PLACE_HOLDER</div>
</body>
:
sed 's/\&/\\&/g
1s/^/s\&PLACE_HOLDER\&/
$!s/$/\\/
$s/$/\&/' input.txt
echo ----------
sed 's/\&/\\&/g 1s/^/s\&PLACE_HOLDER\&/ $!s/$/\\/ $s/$/\&/' input.txt | sed -f - test.txt
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