General Electric May Sell Consumer Lamp Business
The Wall Street Journal is reporting that GE is trying to sell a division that makes lighting products. Here are some highlights:
- The consumer lamp business - which is separate from the commercial/specification-focused Current by GE -- is reportedly being floated as a carve out.
- GE has been interviewing investment banks to sell the unit.
- Reports cite that the division is valued at $500M.
- This business unit is part of the company's foundation, dating back to Thomas Edison's work in the late 1800's.
If you subscribe to the WSJ, you can access the article here.
If you don't subscribe to WSJ, you can read summaries on CNBC and the Boston Business Journal.