GE CEO says company needs to reduce debt 'thoughtfully and soon'

FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company's site of its energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler

On Monday, the company said it would sell its biopharma business to Danaher Corp for $21.4 billion as the industrial conglomerate reduces its debt pile, which stood at $121 billion at the end of December. "We have more options available to us down the line to generate cash to help bring down our leverage, including our remaining interests in Baker Hughes and Wabtec Corporation and continued flexibility for our go-forward Healthcare business," Culp wrote in the letterGeneral Electric has reduced its stake in oil-services firm Baker Hughes and will sell nearly half of its healthcare unit, the company said.

One should.

Touch the pension plan and watch what happens.

Of course! 🙄

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GE shares surge 13% after Danaher agrees to buy biopharma business for $21.4 billionGE is selling its biopharma unit for $21.4 billion to Danaher, saying it will use the money to reduce leverage and strengthen its balance sheet. I have some old meds will sell to GE for 1/10 the price Will GE make a profit on this deal? What did they originally buy the biopharma assets for?
Source: CNBC - 🏆 12. / 72 Read more »