The phrase “win-win deal” has become trite, but General Electric’s bombshell on Monday morning rises to that level. The troubled conglomerate’s shares rallied by 8% in early trading on the announcement that Danaher would buy its biotechnology business for $21 billion in cash. GE’s shares are up by nearly 70% since their mid-December trough. Danaher’s shares also rose by about 8%, signifying what the market perceives as a good price and a good fit for the company once run by current GE boss Larry Culp.

Source: Wall Street Journal February 25, 2019 16:52 UTC