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Blackstone and group of private equity firms near deal to buy Medline

FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid/File Photo

(Reuters) – Blackstone Group Inc and a group of other private-equity firms are nearing a deal to acquire medical supplier Medline Inc that would value the company at more than $30 billion, excluding debt, a source said to Reuters.

The deal would be valued at about $34 billion, including borrowings, the source said.

The Wall Street journal first reported about the deal.

The deal has yet to be finalized, the source added.

The Blackstone consortium includes Carlyle Group Inc and Hellman & Friedman LLC, the Wall Street journal added on.wsj.com/3fQIPiG.

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