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Non-Tech : General Electric (GE)

GE 305.33

+0.1%

Nov 6 3:59 PM EST

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From: E_K_S	2/25/2019 8:43:26 AM
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GE to sell BioPharma unit to Danaher for $21.4B Feb. 25, 2019 7:09 AM ET General Electric (NYSE: GE) has agreed to sell its BioPharma business to Danaher (NYSE: DHR) for $21.4B, including $21B in cash plus the assumption of certain pension liabilities. The transaction should close in Q4. GE will use the proceeds to pay down debt and strengthen its balance sheet. The BioPharma unit, part of GE Life Sciences, generated $3B in revenues last year. It consists of process chromatography hardware and consumables, cell culture media, single use technologies, development instrumentation and consumables, and service. Pharmaceutical Diagnostics will remain with GE Life Sciences (which generated $17B in revenue last year). Shares are up 6% premarket on light volume. ------------------------------------------------------ This is a big deal as company continues to sell off their crown jewels. EKS

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