(Bloomberg) -- General Electric Co. will split into three separate companies, breaking up the once-mighty conglomerate into standalone businesses focused on health care, power and aviation. The shares surged.
The health unit will be spun off in early 2023, according to a statement Tuesday. GE will combine its renewable energy, power equipment and digital businesses into a separate unit that will then be spun off in early 2024.
The remaining company will consist of GE Aviation, the company’s engine-manufacturing operation.
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