Mergers & Acquisitions
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Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, financial advisors and other financial institutions and investors on their most important mergers, acquisitions and takeover transactions.
GE Spins Off Health Care Business, Creating GE HealthCare
- Client News
- January 4, 2023
Paul, Weiss advised GE in the separation of its health care business and launch of GE HealthCare Technologies Inc., a global leader in precision health care. GE HealthCare will continue to be at the forefront of provider and patient care, with more than 4 million product installations and more than 2 billion patient exams a year.
Under the terms of the transaction, completed on January 4, holders of GE common stock received one share of GE HealthCare common stock for every three shares of GE common stock held. The distribution was part of a tax-free spin-off, resulting in tax efficiencies for GE shareholders in the United States. GE will retain approximately 19.9% of GE HealthCare common stock.
The spin-off is the first part of GE’s plan, announced in November 2021, to form three industry-leading global public companies focused on aviation, health care and energy. The upcoming spin-off of GE’s energy business, GE Vernova, will be executed in early 2024, with the remaining business becoming GE Aerospace.
The Paul, Weiss team included corporate partners Scott Barshay, Steven Williams, John Kennedy, Caith Kushner, Christodoulos Kaoutzanis, Andrew Krause and Christopher Cummings, and counsel Jason Tyler and Frances Mi; tax partners Jeffrey Samuels, Brian Krause and Patrick Karsnitz, and counsel Alyssa Wolpin; intellectual property partner Jonathan Ashtor and counsel Marisa Geiger; executive compensation partners Jean McLoughlin, Jarrett Hoffman and Rebecca Coccaro, and counsel Cynthia Akard and Jake Glazeski; litigation partners Brette Tannenbaum, Lewis Clayton, Andre Bouchard and Audra Soloway, and counsel Steven Herzog; real estate partner Peter Fisch; environmental counsel William O'Brien; and antitrust counsel Yuni Sobel.