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GE Capital to Acquire MetLife’s U.S. Deposit Business (GE)
GE Capital, a subsidiary of multinational conglomerate General Electric Company ( GE ), on Tuesday announced it would acquire the U.S. retail deposit banking operations of MetLife, Inc. ( MET ).
MetLife's banking segment boasts around $7.5 billion in U.S. deposits and also offers an established online banking platform. Terms of the deal were not immediately disclosed.
GE shares posted small losses in premarket trading Tuesday, while MetLife shares rose 95 cents, or +3.1%.
The Bottom Line
We have been recommending shares of General Electric ( GE ) since Dec.9, when the stock was trading at $16.80. The company has a 3.73% dividend yield, based on Friday's closing stock price of $18.23.
General Electric Company ( GE ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars. MetLife, Inc. ( MET ) is currently rated "Neutral."