The Hinduja Group is learnt to have submitted bid to acquire Houghton International, a Pennsylvania based producer of metalworking fluids and other chemicals.
The acquisition is likely to be valued at $1.15 billion (approx Rs 5,865 crore). AEA Investors LP, the investment firm owns Houghton. The company makes specialty chemicals, oils and lubricants for the metalworking, automotive, steel and other industries. Deutsche Bank and Morgan Stanley have been hired to advise on the sale process.