General Electric said on Monday it would sell its biopharma business to Danaher Corp for $21.4 billion in the biggest strategy reversal since Lawrence Culp took over as the industrial conglomerate's chief executive in September. The biopharma sale also propelled a broad rally in GE's roughly $120 billion of bonds, which had taken a pounding in late 2018 as it …
New York CNN Business — General Electric CEO Larry Culp is turning to his former company as he continues to dismantle GE. Danaher, the industrial company Culp ran more than a dozen years, agreed on Monday to buy GE’s BioPharma business. “It demonstrates that we are executing on our strategy by taking thoughtful and deliberate action to reduce leverage and …
