Danaher will buy the biopharmaceutical business of General Electric in a $ 21.4 billion deal, the companies announced on Monday. [Div] group> p: first-child "/>
The deal will see Danaher pay $ 21 trillion in cash, as well as certain certain GE pension liabilities.
The GE Life Sciences unit will join Danaher's Life Science as a standalone business. ] "We are executing on our strategy by taking thoughtful and deliberate action to reduce leverage and strengthen our balance sheet," GE Chairman and CEO Larry Culp said in a statement.
GE shares jumped more than 10 percent in premarket trading from Friday's close of $ 1
This story is expected to be completed by the fourth quarter of this year.
This story is developing . Please check back for updates.