General Electric (GE) Considers Selling Security Unit For $2B

The FT reported that General Electric (NYSE: GE) is seeking a buyer for its security business, which makes alarms, surveillance systems and other safety products, and hopes to receive bids of approximately $2 billion, according to people close to the matter.

GE had received preliminary indications of interest from rivals looking at the unit, and was working towards securing another round of more definitive bids, the FT said.

The business has received interest from GE's rivals in the security sector such as United Technologies (NYSE: UTX), Tyco (NYSE: TYC) and Germany's Robert Bosch.

GE is considering selling its security unit because its in the process of looking at shedding non-core assets.

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