Bears' Window Narrows as Our Thesis Plays Out: GE Sells BioPharma to Danaher
On Feb. 25, narrow-moat-rated General Electric announced it has agreed to sell its BioPharma business to Danaher for approximately $21.4 billion, including $21 billion cash and assumption of certain pension liabilities (about 17 times forward EBITDA). We had speculated that this deal was possible as early as last year and wrote that the deal would be "approximately $20 billion at current forward enterprise value/EBITDA multiples." The GE Life Sciences unit will join Danaher’s Life Sciences as a ...General Electric is a technology industrial company. The company's segments include: Power, which serves power generation, industrial, government and other customers with products and services related to energy production; Renewable Energy, which engineers and manufactures energy equipment and projects, grid solutions and digital services; Aviation, which designs and produces commercial and military aircraft engines, digital components, electric power and mechanical aircraft systems; Healthcare, which provides healthcare technologies; and Capital, which provides financial products and services that build on the company's industry capabilities in aviation, power, renewables, healthcare and other activities.
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