Manufacturing Industry
Materials-related deals take high profile.(Special Report)
Plastics News, January, 2007 by Esposito, Frank
Byline: Frank Esposito The plastic materials corner of the mergers and acquisitions world slowed down a bit in 2006, but the market might just have been catching its breath for 2007. That became evident Jan. 10, when the Wall Street Journal reported that General Electric Co. was seeking a buyer for its GE Plastics unit, one of the plastics market's most historic properties.
The Journal reported the asking price for GE Plastics could be as high as $10 billion, although GE Plastics officials declined to comment on the report. Major private equity firms are expected to be the top bidders for GE Plastics, a maker of engineering resins and specialty film and sheet that employs 11,000 worldwide and has annual sales of almost $7 billion. Within the plastics...
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