GE to split into three companies by 2024

General Electric announced Nov. 9 that it plans to split into three publicly traded companies over the next three years.

GE (NYSE: GE) shares were up 8% as of 8:10 a.m. in premarket trading on the news.

The Boston-based company said it will pursue a tax-free spin-off of GE Healthcare, which has a presence in Massachusetts, in early 2023, but will retain a 19.9% stake in that spinoff.

In early 2024, it plans to spin off the combined renewable energy and power companies, currently two separate divisions.



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