General Electric To Sell Biopharma Biz Unlisted Video
5 years ago
389
General Electric announced Monday that it plans to sell its biopharma business for $21.4 billion. Proceeds from the transaction will be used to reduce leverage and strengthen its balance sheet, said CEO Lawrence Culp. Under the leadership of Culp, GE has been working hard to reduce debt by selling assets. Shares have soared nearly 70% since bottoming at $6.66 in December. Watch General Electric trade live.
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