GE’s Finance Exit Means Billions More for Takeovers
ByGeneral Electric Co. — the most acquisitive industrial company — is about to get a whole lot more cash to spend on takeovers.
The $274 billion maker of jet engines and locomotives is nearing a sale of a chunk of its U.S. private-equity lending assets for $12 billion. That’s only the beginning: GE is shedding about $200 billion of assets under Chief Executive Officer Jeffrey Immelt’s plan to divest the bulk of GE Capital.
“I have a hard time believing that he’s not going to continue along the path of making acquisitions,” said Scott Lawson, vice president at Westwood Holdings Group Inc., which oversees about $22 billion including GE stock. “GE is pretty big so you’ve got to do big moves to move the needle.”…
GE’s Finance Exit Means Billions More for Takeovers
