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GE Soars After Announcing Plan To Split Into 3 Separate Companies

Courtesy of ZeroHedge View original post here.

Roughly 3.5 years after being booted from the Dow, GE announced Tuesday that it will split into three companies after years of activist shareholders pushing for structural changes as its stock has perennially lagged the market.

The split will create three separate companies focused on aviation, health care and energy. The health-care unit should be separated by early 2023, while the separation of a company combining GE’s renewable energy and GE power units is expected to be finished by 2024. What remains will be the GE Aviation unit.

News of the split has sent GE shares soaring nearly 20% in premarket trade.

Spinoffs are hardly a new thing for GE, which has been shrinking since the financial crisis.


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