General Electric Will See 2 Cent Per Share Charge Related to Avio Aero Acquisition (GE)

Early on Wednesday, General Electric Company (GE) announced that it will see acquisition-related charges of 2 cents per share associated with its previously announced acquisition of Avio Aero.

These charges include the impact of settling Avio’s previous contractual obligations with GE, which was more than 50% of Avio’s aviation sector revenue. Avio, prior to the acquisition, had been a supplier to GE Aviation for many years and had many pre-existing contractual obligations.

General Electric purchased Avio Aero for $4.3 billion and the deal closed on August 1.

General Electric shares were down a fraction during pre-market trading on Wednesday. The stock is up 16.48% year-to-date.