GE is splitting into three companies
CNN
General Electric, the industrial conglomerate founded by Thomas Edison in 1892, is breaking up. GE announced plans Tuesday to split into three separate companies.
GE will become separate publicly traded companies for its aviation, healthcare and energy businesses. The company said it hopes to spin off the healthcare business to shareholders in early 2023 and that the separation of its renewable energy and power business will occur in early 2024.
Shares of GE (GE) surged as much as 17% in premarket trading on the news before retreating to about an 6% gain an hour before the market open. The stock was already up more than 25% in 2021 before the spin-off announcement.
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