Unable to fetch $3 billion outright, Malvern specialty chemical company PQ Corp. is now headed toward being split up and sold off in pieces.

With suitors lined up to take its industrial catalysts third, asset manager Carlyle Group plans to send the other two thirds to their former private equity owner or another private equity firm, according to a recent Chemicals Technology report.

Those other two units deal in performance chemicals and specialty glass materials. The $3 billion asking price for all three was double Carlyle’s 2007 investment in the business before combining it with INEOS Silicas.

Read more about the new development for PQ Corp. and its potential buyers in Chemicals Technology here.

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