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Thursday, February 6, 2014

Carlyle nears Illinois Tool Works deal worth $3 billion -sources, (NASDAQ: CG)

Private equity firm Carlyle Group LP is nearing a deal to acquire Illinois Tool Works Inc's industrial packaging unit for more than $3 billion, according to two people familiar with the matter. The two sides could announce an agreement as early as Thursday, the people said, asking not to be identified because the talks are confidential.

Shares of CG traded higher by 2.93% or $0.95/share to $33.38. In the past year, the shares have traded as low as $23.85 and as high as $38.13. On average, 422823 shares of CG exchange hands on a given day and today's volume is recorded at 417300.