General Electric buys Smith's Aerospace

Posted Jan 15, 2007 by Catfan81

GE forks out 4.8 billion cash for British Company.
Hoping to capitalize on an increase in plane orders GE buys Smiths Group Plc aerospace unit for 4.8 billion in cash.
"The two firms also said on Monday they had agreed to set up a joint venture for their detection businesses to be owned 64 percent by Smiths and 36 percent by General Electric."