UPDATE: General Electric (GE) Nears Billion-Dollar Deal to Buy Italy's Avio
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(Updated - December 7, 2012 3:49 PM EST)
General Electric (NYSE: GE) shares are higher into the close Friday, up about 0.3 percent, amid news it is moving to acquire Avio, a privately-held Italian airplane parts supplier.
Reuters said talks are in progress and private equity fund Cinven is managing the deal for Avio.
Reports have the market cap of Avio at about €3 billion.
GE could be competing with France's Safran SA for the parts supplier.
General Electric (NYSE: GE) shares are higher into the close Friday, up about 0.3 percent, amid news it is moving to acquire Avio, a privately-held Italian airplane parts supplier.
Reuters said talks are in progress and private equity fund Cinven is managing the deal for Avio.
Reports have the market cap of Avio at about €3 billion.
GE could be competing with France's Safran SA for the parts supplier.
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