General Electric Divests Biotech Business to Danaher for $21.4 Billion

General Electric shares are higher by 8% after the announcement to divest its biotechnology business to Danaher for $21.4 billion.  The cash strapped industrial giant secured $20 billion in cash and roughly $400 million in pension liabilities.   With over $100 million in debt, General Electric CEO Culp delivered his first  big step in addressing the companies balance sheet.

General Electric also is pulling the plug on the healthcare IPO plan, a move that is positively viewed on the street as that business is healthy and could help continue to deliver cash flow for them.

GE may also not be done wheeling and dealing as they are exploring options to sell imaging business.

The deal was also very positive for Danaher and will deliver $0.45 to $0.50 in the first full year post acquisition.  Shares of Danaher were also higher by 8%, with the S&P 500 index rising by 0.6%.

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Ed Moya

Ed Moya

Contributing Author at OANDA
With more than 20 years’ trading experience, Ed Moya was a Senior Market Analyst with OANDA for the Americas from November 2018 to November 2023. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies. Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Prior to OANDA he worked with, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business, cheddar news, and CoinDesk TV. His views are trusted by the world’s most respected global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Seeking Alpha, The New York Times and The Wall Street Journal. Ed holds a BA in Economics from Rutgers University.