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General Electric to Buy LM Wind Power for $1.65B

GE is continuing CEO Jeff Immelt's plan to expand industrial operations with a new megadeal.

General Electric (GE) - Get General Electric Company (GE) Report announced on Tuesday that it plans to acquire LM Wind Power, a Denmark-based supplier of rotor blades for wind turbines. Subject to regulatory approval, GE is expected to pay roughly 1.5 billion euros, or about $1.65 billion. For about 15 years, LM Wind Power has been owned by London-based private equity firm Doughty Hanson. GE shares were down slightly after news of the deal.

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