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It will give G.M. a 20percentt stake in Fiat's auto division, worth $2.3 billion, in exchange for a 5.15percentt share in G.M. for Fiat.
9. Philips on Monday reported better-than-expected quarterly profits on cost cutting and strong orders for its US healthcare business, but said the sale of its Lumileds division, worth $3.3 billion, is in doubt, due to US regulators concerns.
It is to sell its agrochemicals division, worth some euro6 billion ($5 billion).See article: A farewell to 'life sciences'Weyerhaeuser, a forest-products company, failed in friendly talks aimed at buying a rival, Willamette Industries.
The deal will give G.M. a 20percentt stake in Fiat's auto division, worth $2.3 billion, in exchange for a 5.15 percent Fiat stake in G.M. The deal gives Fiat the chance to sell the remaining 80percentt of its car division to G.M. in three and a half years.
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They had asked G.E. to spin off its lucrative aircraft leasing division and sell off Honeywell divisions worth billions of dollars.
Finally, of course, streaming through the gap in the lines would come the cavalry, three divisions' worth.
Of that, the company's services division is worth $5 a share, Genovese estimated, while the operating system is $1 and the intellectual property is worth another $1 a share.
Analyst estimates of the division's worth on Monday ranged from $484.5 million to more than $1 billion.
The division is worth about $9.5 billion if ascribed BlackRock's price-to-estimated earnings ratio of just under 19 times.
A year ago, Jeffrey K. Skilling, Enron's president at the time, told Wall Street that the division was worth about $20 billion.
The general described procuring a division's worth of supplies in the field, and noted that "buying for a 'family of 20,000' is not easy".
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