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New York (AFP) - The US conglomerate General Electric, co-founded more than 130 years ago by Thomas Edison, is opening a new chapter in its history on Tuesday: its break-up into three independent entities which will then concentrate on their disparate core businesses. The group announced its "spin-off" project in November 2021, which was to be carried out in several stages. An initial split took place in January 2023 with the creation of GE HealthCare, bringing together all the health care activities. The official finalization of the separation comes Tuesday, with General Electric disappearin...
AFP
New York (AFP) - Iconic breakfast food brand Kellogg became the latest US corporate giant to announce a breakup, unveiling plans Tuesday to split into three companies in a move that lifted its share price. The company -- known for such ubiquitous brands as Corn Flakes and Pop-Tarts -- will spin off its North American cereal business into a new company, while a second venture will house Kellogg's plant-based businesses. The remaining corporation will be positioned as a higher-growth snacks business with exposure to emerging markets. This unit -- which will also house the international cereal op...
AFP
New York (AFP) - US pharmaceutical giant Johnson & Johnson on Friday announced plans to break up, splitting its consumer health arm that sells Band-Aid and Tylenol from its pharmaceutical division that includes the single-shot Covid-19 vaccine. The spin-off will create "two global leaders that are better positioned to deliver improved health outcomes for patients and consumers through innovation," Johnson & Johnson said in a statement. It is the third major company to announce plans to break up its business this week after General Electric and Toshiba. Johnson & Johnson is still dealing with t...
AFP
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