General Electric has completed its three-way split, with its aerospace and energy businesses now trading as separate entities on the New York Stock Exchange. The breakup, led by CEO Larry Culp, marks the end of an era for the industrial conglomerate, which faced struggles including the 2008 financial crisis and subsequent loss of its place in the Dow Jones Industrial Average. The move follows Culp's efforts to revitalize the company, with GE Aerospace estimated to have a market value of over $100 billion after the spinoff.
General Electric has completed its three-way split into separate companies for its aerospace, energy, and healthcare businesses, marking the end of its era as an industrial conglomerate. CEO Larry Culp's efforts to revitalize the company culminated in this move, which follows struggles including the 2008 financial crisis and a subsequent period of crisis. The aerospace and energy businesses will begin trading separately on the New York Stock Exchange, with GE Aerospace estimated to have a market value of over $100 billion.
General Electric has completed its three-way split, with its aerospace and energy businesses now trading separately on the New York Stock Exchange. The breakup, initiated by CEO Larry Culp, marks the end of an era for the industrial conglomerate, which faced struggles including the 2008 financial crisis. The move follows the earlier spinoff of its healthcare business. GE Aerospace, now valued at over $100 billion, and GE Vernova are the two new entities resulting from the split.
Honeywell's shares faced pressure as the company reported disappointing third-quarter results and weak forward guidance, despite slightly exceeding expectations in earnings and cash flow. The industrial conglomerate's lackluster performance for the rest of the year dampened investor enthusiasm.
Emerson Electric has agreed to acquire National Instruments for $8.2 billion, beating out rival bidder Fortive Corp in a tightly contested process. The acquisition is expected to bolster Emerson's efforts to reshape itself as a major global player in the automation industry. The deal will strengthen a key pillar of Emerson's strategy to build out its capabilities in the high-growth area of testing and measurement and allow it to tap National Instruments' software-connected automated systems as part of its profitability push. The deal is expected to close in the first half of Emerson's fiscal 2024.
