Blackstone Is Said to Near $4 Billion Deal for MacLean Power (1)

Blackstone Inc. is nearing an acquisition of MacLean Power Systems in a deal that could value the utility-parts maker at more than $4 billion, according to people familiar with the matter.

The private equity firm may announce a purchase of MacLean from Centerbridge Partners as soon as next week, the people said, asking not to be identified discussing confidential information.

Blackstone beat out other suitors including ABB Ltd., with the Swiss industrial giant deciding against increasing its offer for MacLean, some of the people said.

While discussions are at an advanced stage, they could still be delayed or ...