Ashland lands three bids for water tech unit


water spring_lrgAshland has reportedly received three offers for its water-chemicals business including a joint bid from private equity major Blackstone and industrial conglomerate Danaher Corp.

Buyout firm Clayton Dubilier & Rice and Rhone Group also made offers of less than $2bn for Water Technologies, said Bloomberg, citing people with knowledge of the matter.

Ashland expects to choose the buyer in the next few weeks, said one of the sources.

Last November it was reported that Blackstone and Dahaner made an offer for the company, which valued it at over $1.5bn.

At that time, it was reported that Goldman Sachs, Apollo Global, Bain Capital, TPG, Onex Corp, Advent International, Rhone Group, Clayton Dubilier & Rice also were interested in acquiring the business.

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