American Pacific Corp had been considering putting itself on sale, said three sources that were familiar with the matter. American Pacific Corp is a manufacturer of chemicals that are used in pharmaceutical and aerospace industries.

According to one of the sources, the chemical company were engaged in advance discussions with bidders. The transaction would reportedly push through in the near future, added one source. Two of the sources said the chemical company had hired KeyBanc to provide advice on the potential sale.

American Pacific is also a maker of fire protection and water treatment chemicals. The company has a current market capitalization of about USD420 billion. Over the last year, the company's share price had reached nearly quintupled. The shares of American Pacific Corp had also increased by 47%, according to the company's recent quarterly earnings report in August.

Representatives for American Pacific and KeyBanc could not be immediately reached for comment regarding the reported possible sale.