other material
confidence high
sentiment neutral
materiality 0.75
GE Board approves GE HealthCare spin-off; announces $7.0B debt tender offer
GENERAL ELECTRIC CO
- Board approved spin-off of GE HealthCare; distribution expected Jan 3, 2023 after market close.
- Shareholders to receive 1 share of GE HealthCare (GEHC) for every 3 GE shares held on Dec 16, 2022.
- GE HealthCare will trade on Nasdaq under ticker GEHC starting Jan 4, 2023; GE retains up to 19.9%.
- Tender offer: GE accepts ~$7.0B aggregate purchase price of debt securities; early payment Dec 2, 2022.
- Accepted priority 1 and 2 fully; priority 3 prorated at ~46.42%; no further tenders accepted.