Company Splits Into Three Independent Entities

General Electric Completes 132-Year Legacy with Breakup

Company Splits into Three Independent Entities

CHICAGO, April 2 (Reuters) - General Electric (GE) has officially concluded its breakup after 132 years, marking a significant milestone in the industrial giant's history. The company has now separated into three independent publicly traded companies: GE Aerospace, GE Vernova, and GE HealthCare Technologies.

Breakup Completes a Decade-Long Process

GE's journey to separate began over a decade ago, driven by a desire to simplify its operations and focus on specific industry sectors. The spin-off of GE HealthCare Technologies in 2023 was the first major step in this process. The company has now completed the split with the establishment of GE Aerospace and GE Vernova.

Investor Optimism Fuels Surge in GE Stock

The announcement of the breakup completion has been met with positive investor response, leading to a surge in GE stock. Shareholders are optimistic about the future prospects of the newly formed companies, which will each focus on specific sectors of the global economy.

GE Vernova to Spin Off in April 2024

The final piece of GE's breakup plan is the spin-off of GE Vernova, which will create two separate companies: GE Aerospace and GE Vernova. The spin-off is scheduled for April 2, 2024, before the opening bell of the New York Stock Exchange (NYSE). Shareholders of record as of March 19, 2024, will receive shares of the newly created GE Vernova.

Historic Transformation for Industrial Icon

The breakup of GE marks the end of an era for the once-mighty industrial icon. Founded by Thomas Edison in 1892, GE has played a pivotal role in the development of countless technologies and industries. The company's legacy will live on through its newly formed entities, which will continue to shape the future of aviation, energy, and healthcare.