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Bloomberg: Ashland water chemicals unit got three bids by deadline

  • Ashland (ASH) received three bids for its water chemicals unit as of the Feb. 10 deadline, including a joint proposal from Blackstone (BX) and Danaher (DHR) valued at almost $2B, Bloomberg reports.
  • If the Blackstone-Danaher group wins, it could break up the asset; DHR would keep the operations supplying treatments for municipal water and industrial waste, and BX would acquire the pulp- and paper-chemical side of the business.
  • ASH had said it would exit the water chemicals business as part of an overhaul that includes selling its elastomers unit, which supplies synthetic rubber to tire makers, and focusing on expanding in additives used in cosmetics and pharmaceuticals.
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