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Investing.com-- Private equity firm Lone Star Funds is in advanced negotiations to acquire U.S. industrial manufacturer Hillenbrand Inc (NYSE:HI), Bloomberg reported on Tuesday, citing people familiar with the matter.
A deal for the Batesville, Indiana-based maker of plastic parts and processing equipment could be announced as soon as this week, though talks could still be delayed or collapse, the report said.
Hillenbrand, which has a market value of about $1.87 billion, supplies industries including automotive, packaging, and electronics, with customers such as Dow Inc (NYSE:DOW) and General Mills Inc (NYSE:GIS).
The company has been reshaping its portfolio to focus on industrials, selling its casket business last year and acquiring Schenck Process Food and Performance Materials from Blackstone for about $730 million, the report added.