GE (GE) Lower as $3.9B Avio Deal Close
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Shares of General Electric Co. (NYSE: GE) traded lower early on Tuesday on reports that it was on the verge of finalizing a $3.9 billion deal to buy Italian areospace supplier Avio. According to reports yesterday, GE and private-equity firm Cinven were nearing an agreement, which could be announced as soon as Thursday. This was followed by reports this morning that Cinven ended talks with French suitor, Safran.
GE and Cinven are attempting to iron out a sticking point over Avio's space business, which GE isn't interested in purchasing, though it may be included in the deal for a possible sale at a later date.
If an agreement is reached between GE and Cinven, it could face regulatory scrutiny.
GE and Cinven are attempting to iron out a sticking point over Avio's space business, which GE isn't interested in purchasing, though it may be included in the deal for a possible sale at a later date.
If an agreement is reached between GE and Cinven, it could face regulatory scrutiny.
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