GE chief Larry Culp sells biopharma business for $21 billion

GE chief Larry Culp sells biopharma business for $21 billion

Shares of General Electric Co surged 11 percent on Monday after the US industrial conglomerate said it would sell its biopharma business to Danaher Corp for $21 billion, its first major asset sale under new Chief Executive Officer Larry Culp. The deal will provide GE with a much needed cash infusion as the maker of power plants and aircraft engines struggles to pay off billions of dollars of debt and insurance liabilities. GE, once a symbol of American business power and management prowess, has struggled with crisis-era losses linked to…

Read More