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Investing.com -- Advanced Drainage Systems Inc. is in advanced talks to acquire the water management unit of Germany’s Norma Group SE in a deal valued at approximately €850 million ($1 billion), according to Bloomberg, citing people familiar with the matter.
The Hilliard, Ohio-based company submitted a binding bid before last week’s deadline, and an agreement could potentially be finalized in the coming days, said the sources, who asked not to be identified because the information is private.
The sources indicated that no final decisions have been made regarding the potential acquisition, and other bidders could still emerge in the process.
Neither Advanced Drainage Systems nor Norma Group have made public statements about the negotiations.
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