GE Vernova agrees to acquire grid equipment supplier Trench for $9 billion

GE Vernova announced an agreement to acquire Trench Group, a supplier of high-voltage electricity grid equipment, for $9 billion, Yahoo Finance reported. The acquisition announcement accompanied third-quarter results showing $29 billion in orders and a backlog that increased by $20 billion sequentially to $197 billion. Quarterly revenue rose 27% to $12.64 billion, while organic orders grew 96%, supported by Power equipment demand and services. GE Vernova raised its full-year revenue forecast to $46.5 billion-$47.5 billion and its free cash flow guidance to $16 billion-$17 billion. The Trench transaction is an acquisition agreement rather than a completed purchase.