Deals
Bridgestone Is Said to Weigh Firestone Building Products Sale
- North American roofing group could fetch about $2.5 billion
- Japanese conglomerate Bridgestone also makes tires, tubes
Photographer: Tomohiro Ohsumi/Bloomberg
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Bridgestone Corp., the Japanese industrial conglomerate, is considering a sale of its Firestone Building Products for about $2.5 billion, according to people with knowledge of the matter.
The company has hired an adviser to explore strategic options for the business, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Firestone, with earnings before interest, taxes, depreciation, and amortization of about $250 million, is expected to attract interest from private equity firms as well as other companies in the roofing business, the people said.