The remaining business will likely be packaged for sale: including GE Lighting, Current, and GE's acquisition of Daintree Networks, an emerging building automation company based in Melbourne. However, the sales table also clarifies the difference between GE Lighting and Current, so GE may also sell these businesses separately. According to foreign media sources, about 50 companies expressed initial interest in GE Lighting's sale. In the second quarter, GE will meet with key and potential customers and plan to accept bids in the third quarter. GE said the plan will complete the transaction in the fourth quarter. The remaining business will likely be packaged for sale: including GE Lighting, Current, and GE's acquisition of Daintree Networks, an emerging building automation company based in Melbourne. However, the sales table also clarifies the difference between GE Lighting and Current, so GE may also sell these businesses separately. GE hopes the price of the merger will be $1 billion, but there are also rumors that the price should be between $400 million and $600 million. Some say that the company may have valued $1 billion in the past few years, but not today. As a pioneer in the lighting industry, GE has frequently sold its business in recent years, including the lighting business. In August 2016, GE Lighting announced the closure of two lighting fixtures in Lexington and Somerset in the United States. It is reported that the main business of these two factories is traditional lighting products. Less than a month later, GE spokesperson AliciaGauer. revealed that if the union agreed, it would close GE Lighting's light bulb factory in Bridgeville. This is the third lighting factory announced by GE in 2016. This traditional lighting factory was built in 1948. On August 31, 2016, GE Lighting CEO Bill Lacey said in an email to the company's employees that GE Lighting has terminated all direct commercial activities in Asia and Latin America since November 30, making GE Lighting highly focused and winning. Take and strengthen its market position in North America, Europe and the Middle East, and continue to scale up and improve profitability. At the time, this news caused the indignation of GE lighting dealers. On September 28th, 2016, GE Lighting distributors jointly released the â€œResponse of GE Dealer Representatives to GE Statementâ€. The two parties negotiated friendlyly and GE finally promised to continue the execution of orders that have already won the bid and signed customers. GE is finally willing to solve the problem. Inventory issues will be proposed to the dealers to accept the program, GE also guarantees full responsibility for the post-contractual obligations of GE product quality, and will transition in a smooth and peaceful manner in the future. On November 23, 2016, according to media reports, GE Lighting made large-scale layoffs in China, and some of the employees were dissatisfied because they failed to obtain reasonable compensation. In response to this incident, GE Lighting subsequently released a "GE China Statement" on its official website, saying that it has reached an agreement with most employees and signed a compensation plan agreement. In late February 2017, influenced by GE's global business transformation, Chen Xiangli, one of GE's R&D leaders and one of the founders of scientific research, resigned. In early April 2017, GE has hired an investment bank to assist it in assessing the possibility of selling consumer lighting business at a price of approximately $500 million. In June 2017, GE Lighting CEO stated in an internal email that GE officially began discussions with potential buyers to sell GE's lighting business. GE's consideration of the sale of this business includes North American residential LED lighting and home networking technology, but will also retain A commercial LED lighting business called Current. The news officially implemented rumors that the outside world is rumored that GE will sell the lighting business. On November 13, 2017, GE's new CEO Flannery stated in GE's future blueprint that GE will focus its business in the three areas of aviation, energy, power and healthcare, but did not mention the lighting business. On February 6, 2018, GE revealed in its fourth quarter 2017 earnings report that it intends to sell its lighting business. Foreign media said that potential buyers may include several lighting manufacturers from China and Europe.
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