GE Will Split Into Three Units, Ending Conglomerate for Good (4)

General Electric Co. will split into three separate companies in a stunning breakup of the iconic manufacturer founded by Thomas Edison whose sprawling businesses once made it the world’s most valuable company. The shares surged.

GE will spin off its health-care business in early 2023 and combine its renewable energy, fossil-fuel power and digital units into a single energy-focused entity that will be spun off a year later, the company said Tuesday. The remaining company will consist of GE Aviation, its jet-engine division.

“What we’re doing today is creating three outstanding investment-grade, global leaders in health care, aviation and energy,” ...