Davis Polk advised the dealer manager for General Electric Company (“GE”) in connection with the offer by GE to exchange up to 5,944,250 new shares of its Series D preferred stock for outstanding shares of its Series A, Series B and Series C preferred stock. GE accepted 2,686,760 shares of its Series A preferred stock, 2,008,376 shares of its Series B preferred stock and 999,357 shares of its Series C preferred stock in exchange for 5,694,493 shares of its Series D preferred stock (with a liquidation preference of approximately $5.7 billion).

GE is a diversified technology and financial services corporation. With products and services ranging from aircraft engines, power generation, oil and gas production equipment and household appliances to medical imaging, business and consumer financing and industrial products, GE serves customers in over 150 countries and employs approximately 305,000 people worldwide.

The Davis Polk corporate team included partners Richard J. Sandler and John B. Meade and associates Connor Kuratek, Courtney Collins and Martin Hui. The tax team included partner Rachel D. Kleinberg and associate Patrick E. Sigmon. Members of the Davis Polk team are based in the New York and Northern California offices.

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