Key Developments: General Electric Co (GE)

GE on New York Consolidated

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28 Aug 2015
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Latest Key Developments (Source: Significant Developments)

General Electric's GE Healthcare First to Receive FDA Clearance for Low Dose CT Lung Cancer Screening
Monday, 17 Aug 2015 08:00am EDT 

General Electric Co:Says it is the first company with a low dose computed tomography (CT) lung cancer screening option that is cleared by the U.S. FDA for lung cancer screening.Says both the U.S. Preventative Services Task Force (USPSTF) and the Centers for Medicare and Medicaid Services (CMS) recommend the use of low dose CT lung cancer screening for high-risk individuals.  Full Article

General Electric Co announces orders for 10 LMS100 gas turbines
Wednesday, 15 Jul 2015 01:00pm EDT 

General Electric Co:Announces orders for 10 lms100 gas turbines; lms100 backlog now in excess of $450 million.Says has secured 10 orders of its lms100* aeroderivative gas turbine with two customers in North America in 2q 2015.Says units will be installed in the southwestern U.S. to support grid stability as new renewable energy is added.  Full Article

General Electric Co, Canada and Gaz Métro join forces
Monday, 6 Jul 2015 08:00am EDT 

General Electric Co:Says Ge Capital, Canada and Gaz Métro join forces to accelerate trucking industry's move to natural gas.Ge capital Canada -signing of a strategic agreement that will facilitate the trucking industry's adoption of natural gas as a fuel in eastern Canada.Ge capital Canada-under this agreement, fleet operators will work with GMTS for natural gas supply and purchase.Ge capital Canada-under this agreement, fleet operators will work with GE Capital to secure loans or leases for natural gas vehicles.Ge capital Canada -NGVS that are eligible under this agreement use either compressed natural gas (CNG) or liquefied natural gas.  Full Article

General Electric Co provides update on sale of appliances
Tuesday, 30 Jun 2015 06:30am EDT 

General Electric Co:Provides update on sale of appliances.GE expects an approximate after-tax gain of $0.05-$0.07 per share at closing.Says the regulatory review for the sale of its appliances business to Electrolux continues.Says the deal will not close during the second quarter of this year.Electrolux and GE continue to work actively with the Department of Justice to endeavor to resolve the remaining items in the clearance process.Says Electrolux and GE continue to work actively with the Department of Justice.GE also announced today that it will book a $0.03 per share gain in the second quarter.Expects gains to offset restructuring and other charges during the second quarter.Says GE expects gains to offset restructuring and other charges during the second quarter.Says continue to work actively with the Department of Justice to endeavor to resolve the remaining items in the clearance process of deal.Rpt-ge says the regulatory review for the sale of its appliances business to electrolux continues.Will book $0.03 per share gain in Q2 as part of early settlement related to obligations entered into in initial NBCUniversal jv with Comc.  Full Article

General Electric Co agrees to offer terms for European sponsor finance sale to Sumitomo Mitsui Banking Corp Europe
Tuesday, 30 Jun 2015 06:30am EDT 

General Electric Co:Agrees to offer terms for European sponsor finance sale to Sumitomo Mitsui Banking Corporation Europe.Deal for about $2.2 billion.Says on track to sell $100 billion by year end and be largely complete by end of 2016.On track to sell $100 billion by year end and be largely complete by end of 2016.Says GE will retain the financing "verticals" that relate to ge's industrial businesses.Transaction is subject to customary regulatory approval. it is expected to close in the third quarter of 2015.Says Bank of America Merrill Lynch and Citigroup global markets provided financial advice to GE and clifford chance provided legal advice.When completed, portfolio to contribute about $0.4 billion of capital to overall target of about $35 billion of dividends expected to GE under plan.GE Capital will retain its $1 billion investment in the European senior secured loan programme and European loan programme.  Full Article

General Electric Co Union Members Vote ‘Yes’ on New Four-Year Contracts
Monday, 29 Jun 2015 08:00pm EDT 

General Electric Co:Says two largest unions have voted to approve new four-year national labor contracts with GE.Says Union officials informed GE that voting by members of the IUE-CWA and the United Electrical, Radio and Machine Workers of America (UE) was completed, and that the national agreements have been ratified.GE Vice President Greg Capito says represented employees have solidly backed this contract that provides an excellent GE job package.  Full Article

General Electric to sell majority of Global Fleet Business to Element Financial Corporation and Arval
Monday, 29 Jun 2015 02:26am EDT 

General Electric Co:To sell majority of global fleet business to Element Financial Corporation and arval.Says to sell its U.S., Mexico, Australia and New Zealand fleet businesses to Element Financial Corporation for $6.9 billion.Separately, GE has signed a memorandum of understanding for the potential sale of its European fleet businesses to Arval, a fully owned subsidiary of BNP Paribas.Arval and GE will now consult with their respective works councils.The U.S. and Mexico transaction is expected to close in the third quarter of 2015, and the a&nz transaction in the fourth quarter of 2015.Says the arval transaction is targeted to close in the fourth quarter of 2015.J.P. Morgan Securities LLC provided financial advice to GE and Weil, Gotshal & Manges LLP provided legal advice.  Full Article

General Electric Co, unions reach tentative agreements on new contracts
Sunday, 21 Jun 2015 11:43pm EDT 

General Electric Co:Reached tentative agreements on new labor contracts with national leaders of its two largest unions, IUE-CWA and the United Electrical, Radio and Machine Workers of America (UE), after three weeks of negotiations.Agreements are now subject to review by union negotiating committees and ratification by union members.GE's existing four-year national contracts with the IUE-CWA and the UE expire at midnight tonight.Says four-year job packages provide improvements in healthcare, wages, pension and job and income security.  Full Article

Safran and General Electric joint company CFM International wins engine order worth $590 million - Reuters
Wednesday, 17 Jun 2015 05:58am EDT 

Reuters:Safran and General Electric joint company CFM International wins engine order worth $590 million - Reuters.Engine is to power 20 new Airbus A320neo aircraft.  Full Article

Altran Technologies and General Electric announce intention to form alliance
Wednesday, 17 Jun 2015 01:01am EDT 

Altran Technologies SA:Altran Technologies and General Electric Co announce intention to form an alliance.To collaborate on development of industrial applications for asset optimization, enterprise optimization and intelligent environments.  Full Article

EU mergers and takeovers (Aug 28)

BRUSSELS, Aug 28 - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

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