Deals
GE Files Confidentially for Health IPO, Buoying Stock
- Goldman Sachs, four other banks working on planned listing
- GE plans have been to spin off most of unit to shareholders
Photographer: Martin Divisek/Bloomberg
This article is for subscribers only.
General Electric Co. has filed confidentially for an initial public offering of its health-care unit, according to people familiar with the matter, moving ahead with plans to spin off its second most profitable business line.
The industrial conglomerate is working with Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley on the planned listing, said the people, who asked not to be identified as the details aren’t public. A public filing is likely next spring, they said.