Jack's gamble.(General Electric's takeover of Honeywell)(Brief Article)
Economist (US), The, October, 2000
Jack Welch was always going to be a tough act to follow at General Electric. Even tougher, now that he has landed his successor with the task of digesting
Honeywell
IN THE 20 years that Jack Welch has led it, General Electric has become the world's most admired company. Even by its own standards, its latest move is impressive: nothing less than the world's largest-ever industrial transaction, a $43 billion takeover of Honeywell. No doubt, the deal is a strategic coup--not to mention an excuse to delay Mr Welch's much lamented retirement by a few months. But it also puts at risk both Mr Welch's legacy and GE's future.
For all its success, GE is one of the few survivors of an endangered species, corporatio conglomerentis. When Mr Welch took...
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