BASF SE has placed its coatings business for sale, valued at about 6 billion euros, or $6.81 billion, reported Bloomberg News late Friday, May 30. According to that report, private equity firm Carlyle Group and paint maker Sherwin-Williams are mulling over a joint bid. 

Other firms, including Advent, Bain Capital, Blackstone, CVC Capital Partners, Lone Star Funds, and Platinum Equity, are reportedly either evaluating or interested in purchasing BASF's coatings unit.

According to Bloomberg, earlier this month a BASF spokesperson said that the German chemical maker would "explore strategic options for the remaining coatings activities."

The Carlyle Group acquired DuPont Performance Coatings, later renamed Axalta Coating Systems, for $4.9 billion in August 2012, selling its remaining shares by 2016.

Sherwin-Williams completed its $11.3 billion purchase of Valspar in June 2017.

Editor's note: This is a developing story.