H. Lawrence Culp, Jr., chairman and CEO of GE.
BOSTON—In its ongoing effort to strengthen its balance sheet, GE has reached a definitive agreement to sell its Biopharma business to Washington, DC-based Danaher Corp. in an all cash deal valued at $21.4 billion.
The deal, which is expected to close in the fourth quarter of 2019, also includes Danaher's assumption of some pension liabilities.
The two companies have a common link—current GE chairman and CEO H. Lawrence Culp, Jr. Prior to joining GE, Culp served as CEO and president of Danaher Corp. from 2001 to 2014. He was named chairman and CEO of GE in late September 2018.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
