The deal could be worth more than $1.5bn according to Reuters, which cited two people familiar with the matter.
Blackstone and Danaher are already believed to be in partnership in the bidding for Johnson & Johnson diagnostics unit Ortho Clinical.
Reuters said the partnership could give it an edge in the latest auction, which is said to include Apollo Global, Bain Capital, TPG, Onex Corp, Advent International, Rhone Group, Clayton Dubilier & Rice and the private equity arm of Goldman Sachs.
All those firms are through to the second round of bidding, it added.
US private equity firm TPG paid $930m for Ashland’s global distribution business in November 2010.
Copyright © 2013 AltAssets