GE Sells Coveted BioPharma Unit to Pay Down $21 Billion in Crippling Debt

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General Electric today shocked the stock market with news that ended up pushing its share price considerably higher. It’s selling its BioPharma unit for $21.4 billion to pay down its crippling debt. GE investors applauded the company for taking its leverage ratio down. They sent the stock price higher by as much as 17% before the opening bell, though the company pared those gains during morning trading. The lucky buyer is Danaher Corp., which was once helmed by current General Electric CEO Larry Culp. Culp served as CEO of Danaher from 2001 to 2014. GE, Danaher Shares Spike after $21

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