Lone Star Said to Near Deal to Buy Plastics Maker Hillenbrand

Lone Star Funds is in advanced talks to acquire plastic parts and equipment maker Hillenbrand Inc., people familiar with the matter said.

The private equity firm could announce a purchase of Batesville, Indiana-based Hillenbrand as soon as this week, according to the people, who asked not to be identified discussing confidential information.

Shares of Hillenbrand closed at $26.49 Tuesday in New York, giving the company a market value of about $1.87 billion.

Bloomberg News reported in August that Hillenbrand has been exploring a sale.

Deliberations are ongoing and could be delayed or falter, the people said. Representatives for Lone ...