GE to spin off healthcare unit, divest Baker Hughes stake
The slimmed-down company will focus on jet engines, power plants and renewable energy, which GE hopes will reward battered shareholders who have seen the stock lose more than half its value over the past 20 years. “This is really the culmination of 10 years of observations I’ve had about the company,” said Chief Executive Officer John Flannery, a GE veteran who took the helm in August with a mandate to revamp the company. GE said its plan will strengthen its balance sheet by reducing debt, building up cash and further shrinking GE Capital.
Source:: https://finance.yahoo.com/news/ge-divest-healthcare-unit-separate-101517302.html
