Report: Blackstone-led group prepping Gates Global bid

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

The power transmission belt and fluid power products company had filed for an IPO toward the end of last year, but Blackstone (BX) - together with fellow P-E firm TPG - is expected to formerly put in a bid in the area of $5.5B by Wednesday, reports the WSJ.