U.S. industrial giant General Electric will split into three companies following years of seeing its stock underperform, CNBC reports.
The company will be divided into separate units focused on aviation, health care and energy. GE plans to spin off the health-care unit by early 2023 and the energy unit by early 2024, the company said in a news release.
GE shares, which were already up 55% over the last 12 months, jumped more than 6% in early trading today. Read more.
