|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||31.56 - 31.87|
|52 Week Range||23.33 - 35.09|
|PE Ratio (TTM)||15.70|
|Dividend & Yield||2.16 (6.89%)|
|1y Target Est||N/A|
Blackstone Group LP is considering an initial public offering of industrial-products maker Gates Corp. If an IPO were to take place, it would value the Denver-based company at $9 billion and make for a quick exit, according to The Wall Street Journal . Blackstone (BX) bought the business just three years ago from Onex Corp. and Canada Pension Plan Investment Board for $5.4 billion.
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.