Yesterday I broke the cardinal rule of newsletter launches, which is to include a sign-up link. In my defense, I only had one giant piece of paper hung on my wall reminding me to include a sign-up link, and I can't see it without craning my neck at an uncomfortable angle. Anyway, please forward this on and ask your friends and colleagues to sign up by going here.
General Electric (NYSE: GE) has welcomed The Blackstone Group, Bain Capital and Clayton Dubilier & Rice into the final round of bidding for GE Water, which is expected to be sold for around $3 billion, according to The NY Post.
Why it's the BFD: GE Water is on the block so that its parent company can get regulatory approval for its massive Baker Hughes purchase, but also perhaps because it is heavily involved in a business ― filtering fracking water ― that GE is elsewhere seeking to disrupt via big research partnership with Statoil, aimed at reducing the amount of water needed in the fracking process.
Bottom line: "Blackstone and Wells Fargo in April 2015 teamed up to buy most of GE Capital Real Estate for about $23 billion. Also, Blackstone last decade made big profits from a company similar to GE Water. It led an investor group in 2003 that acquired Ondeo Nalco, a water treatment company, for $4.2 billion from Suez and exited in 2007, making a big return." -- Josh Kosman, NY Post.