General Electric Co. (GE) has finalized the $21.4 billion sale of its biopharma business to Danaher Corp. (DHR).The sale to Danaher Corp gives GE net proceeds of $20 billion, after accounting for taxes, fees and factored receivable balances, GE said in a statement.“Completing the sale of BioPharma represents a critical milestone on our multi-year transformation, fortifying our considerable sources to de-risk our balance sheet and continue to solidify our financial position,” GE Chairman and CEO H. Lawrence Culp, Jr. commented.The shares dropped 11% to $7.04 at the close of trading in New York on Wednesday. GE stock has declined over …read more
Source:: Yahoo Finance
