According to a Reuters report, at least six private equity groups will bid on Illinois Tools Works’ industrial packaging segment. The article says that the deal could attract more than $3 billion for the unit. ITW, Glenview, IL, announced it was exploring a potential sale of that segment earlier this year.
Reuters reports Carlyle Group LP, Blackstone Group LP, Apollo Global Management LLC, Bain Capital LLC, Ares Management LLC and others are among the potential bidders for the unit.
The segment had revenue of $2.4 billion in 2012.
