GE said the sale won't include its pharmaceutical diagnostics business but expects to use the net proceeds of around $20 billion to reduce its overall debt load. Danaher said the business till operate as as stand-alone company it is own life sciences segment, and will add around 45 cents to 50 cents in adjusted earnings in the first full year after the deal closes.
Jim Cramer thinks that this is a step in the right direction for GE and also believes that it shows CEO Larry Culp's leadership as he navigates GE.
Over on Cramer's Daily Rundown for Action Alerts Plus, he gave actionable advice for investors and recommended a stock.
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