GE board approves GE healthcare spinoff

GE said Nov. 30 its board approved the planned spin-off of its healthcare business, GE Healthcare. 

GE announced June 26, 2018, that it would spin off its healthcare business into a standalone enterprise as part of its plan to split into three public companies. Under the spinoff, shareholders will receive one share of the new company for every three GE shares they hold on Dec. 16, according to a press release from GE. 

The new company is also expected to begin trading on Nasdaq Jan. 4, under the symbol GEHC. 

In addition, GE shareholders will retain up to 19.9 percent of the outstanding shares of GE HealthCare common stock.

The distribution is expected to occur after the U.S. market closes on Jan. 3. 

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