Danaher, Blackstone in joint bid for Ashland water unit

Industrial conglomerate Danaher Corp and private equity firm Blackstone Group LP are pursuing a joint bid for chemicals manufacturer Ashland Inc’s water technologies unit, two people familiar with the matter said on Tuesday, in a deal that could top $1.5 billion, sister news service Reuters reported.

It is the second asset that Danaher is pursuing in partnership with Blackstone following their participation in an auction, currently underway, for Johnson & Johnson’s clinical diagnostics unit that could fetch $4 billion. The partnership could offer Blackstone an edge ...

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