General Electric will buy power-conversion equipment maker, Lineage Power Holdings, for $520 million, The Wall Street Journal reports. Lineage is owned by private-equity firm, Gores Group.
Gores obtained Lineage when the Los Angeles-based firm acquired the power backup division from Tyco Electronics, adds Bloomberg. Deutsche Bank represented GE and Morgan Stanley advised Gores Group on the Lineage deal, which is expected close in the first quarter.
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