Will GE make a profit on this deal? What did they originally buy the biopharma assets for?
I have some old meds will sell to GE for 1/10 the price
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GE's stock soars after deal to sell biopharma business to Danaher for $21.4 billionShares of General Electric Co. shot 8.8% in premarket trade Monday, after the industrial conglomerate agreed to sell its biopharma business to Danaher Corp. for $21.4 billion in cash. "Today's transaction is a pivotal milestone," said GE Chief Executive Lawrence Culp. "It demonstrates that we are executing on our strategy by taking thoughtful and deliberate action to reduce leverage and strengthen our balance sheet." Culp had served as CEO of Danaher from 2001 to 2014. Danaher said it expects to finance the deal with $3 billion from an equity offering, cash on hand and the issuance of debt. Danaher expects the deal, which is expected to close in the fourth quarter of 2019, to reduce net earnings by share by $1.15 to $1.20 in the first full year, but add to adjusted EPS by about 45 cents to 50 cents. GE's stock has soared 34.4% over the past three months through Friday, while Danaher shares have climbed 10.8% and the Dow Jones Industrial Average has gained 7.2%.
Source: MarketWatch - 🏆 3. / 97 Read more »
GE withdraws plans for Healthcare IPO after Danaher deal: BloombergGeneral Electric will no longer seek an IPO for its health-care unit following the sale of its biopharma business, CEO Larry Culp told Bloomberg on Monday. Why would CNBC waste air time on Buffett talking kraft heinz, maybe 1% care, that is how many people own it. Ask him real questions about billionaire tax, how he can lead the turn of tyranny. Part of the problem is CNBC capitulation to the Uber greedy
Source: CNBC - 🏆 12. / 72 Read more »