Edition:
United Kingdom

GE To Sell Biopharma Business To Danaher For $21.4 Billion


Monday, 25 Feb 2019 

Feb 25 (Reuters) - General Electric Co ::PRESS RELEASE - GE TO SELL BIOPHARMA BUSINESS TO DANAHER FOR $21.4 BILLION.GE - ACCELERATES GE'S STRATEGY TO REDUCE LEVERAGE AND STRENGTHEN BALANCE SHEET.GE - DEAL EXPECTED TO CLOSE IN Q4 OF 2019.GE - DEAL FOR $21.4 BILLION, INCLUDING $21 BILLION IN CASH AS WELL AS DANAHER'S ASSUMPTION OF CERTAIN PENSION LIABILITIES.GE - BIOPHARMA BUSINESS BEING DIVESTED IS PART OF GE LIFE SCIENCES.GE - TRANSACTION IS NOT SUBJECT TO A FINANCING CONDITION OR A SHAREHOLDER VOTE..GE - PHARMACEUTICAL DIAGNOSTICS, CURRENTLY PART OF GE LIFE SCIENCES, WILL REMAIN WITHIN GE HEALTHCARE PORTFOLIO.GE - PHARMACEUTICAL DIAGNOSTICS, CURRENTLY PART OF GE LIFE SCIENCES, WILL REMAIN WITHIN GE HEALTHCARE PORTFOLIO.GE - EXPECTS TO USE PROCEEDS FROM TRANSACTION TO REDUCE LEVERAGE AND STRENGTHEN BALANCE SHEET.