(Bloomberg) -- Emerson Electric Co. is considering a sale of waste-disposal business Insinkerator, according to people familiar with the matter.
The unit could fetch as much as $3 billion, said one of the people, who asked to not be identified because the matter isn’t public. The St. Louis-based company is working with an adviser to look at options for the unit, which is likely to attract interest from private equity firms and publicly traded rivals, the people said.
No final decision has been made and Emerson could elect to keep the business, they added.
A representative for Emerson declined to comment.
Emerson has been an active dealmaker, closing the merger of its industrial software arm this month with Aspen Technology Inc. It also announced the sale in March of its Therm-O-Disc unit to private equity firm One Rock Capital Partners.
Insinkerator makes garbage-disposal products as well as instant hot-water dispensers for households from a factory in Wisconsin, according to its website. Emerson has owned the business since the 1960s.
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