GE Jumps On Reports Apollo Considering Bid For Airplane Leasing Business

(RTTNews) - Shares of General Electric Co. (GE) have shown a significant move to the upside during trading on Monday, surging up by 5.8 percent. With the advance, GE has reached its best intraday level in nearly two months.

The jump by GE comes following reports private equity firm Apollo Global Management (APO) is considering bid for the conglomerate's airplane leasing division, which could be valued at as much as $40 billion.

A report from Bloomberg said a deal isn't imminent and GE hasn't even committed to sell the operation but noted a number of potential buyers are now angling for GE Capital Aviation Services.