General Electric Co. finalized the $21.4 billion sale of its biopharma business, bringing in much-needed cash and bolstering Chief Executive Officer Larry Culp’s efforts to chip away at a debilitating debt load.
The sale toDanaher Corp. gives GE net proceeds of $20 billion, after accounting for taxes, fees and factored receivable balances, according to astatement Tuesday announcing the close of the transaction. The companies won approval from the Federal Trade Commission earlier this month for the deal, which was announced in early 2019.
26,365 in U.S.Most new cases today
-23% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.082 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23