Cooper Industries PLC (CBE) and Danaher Corp. (>> Danaher Corporation) are looking to sell their Apex Tool Group joint venture that manufactures hand tools, Bloomberg News reported Monday on its website, citing two unnamed sources.
Apex might fetch $1.5 billion or more and attract interest from private-equity companies, the report quoted one of the sources as saying. The potential sale is being advised by Goldman Sachs Group Inc., the report added.
Spokesmen for Cooper and Danaher didn't respond immediately to requests for comment, while a Goldman Sachs spokesman declined comment, the report said.
Full Story: http://www.bloomberg.com/news/2012-03-25/danaher-cooper-said-to-seek-sale-of-alex-tool-venture.html