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GE to split into three companies; shares jump 15%

Published by
Reuters

(Corrects typographical error in paragraph 1) (Reuters) -General Electric said on Tuesday it would split into three public companies, as the storied U.S. industrial conglomerate seeks to simplify its business, pare down debt and breathe life into a share price battered over several years. The split marks the end of the 129-year-old conglomerate that was once the most valuable U.S. corporation and a global symbol of American business power. The ambitious move drove an 8.2% rise in GE shares in premarket trading. GE has faced investor skepticism about its ability to turn a corner since the 2008 …

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