|Bid||31.50 x 700|
|Ask||31.76 x 200|
|Day's Range||31.48 - 31.95|
|52 Week Range||23.33 - 35.09|
|PE Ratio (TTM)||15.68|
|Dividend & Yield||2.16 (6.89%)|
|1y Target Est||N/A|
Blackstone Group is considering an initial public offering of Gates Corp. that could value the auto-parts maker at as much as $9 billion.
The IPO would follow a major turnaround at the company under Blackstone, which had to implement a program of significant cost cuts after being hit by weak demand in the agriculture, infrastructure, energy and mining markets. Blackstone has told investment banks that it may hire IPO underwriters in the next few months to prepare to take Gates public in 2018, the three sources said.
An IPO, which could occur as soon as 2018, could value Gates at about $7 billion.