Capital One Nears Deal to Buy GE Healthcare Unit in $10 Billion+ Deal
Credit card lender Capital One Financial Corp (COF.N) is in exclusive talks to acquire General Electric Co's (GE.N) U.S. healthcare finance unit, in a deal likely to top $10 billion, according to people familiar with the matter.
The potential deal could bulk up Capital One's existing healthcare lending operations and bring GE one step closer to achieving its target of shedding about $200 billion worth of finance assets to focus on industrial manufacturing.
Capital One has outbid other potential buyers in an auction for the unit, the people said on Thursday, cautioning that the negotiations are ongoing and that a deal has not yet been finalized.
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The potential deal could bulk up Capital One's existing healthcare lending operations and bring GE one step closer to achieving its target of shedding about $200 billion worth of finance assets to focus on industrial manufacturing.
Capital One has outbid other potential buyers in an auction for the unit, the people said on Thursday, cautioning that the negotiations are ongoing and that a deal has not yet been finalized.
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