GE Deals Biopharma Biz To Danaher For $21.4Bn; Planned Healthcare IPO Probably Won't Happen

The proposed IPO for GE's healthcare business could be off the table, CEO Lawrence Culp said as GE announced plans to sell its biopharma business to Danaher for $21.4bn. The deal will provide the conglomerate with a much needed cash injection to handle its rising debts.