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GE in talks to buy Italian firm

Jeffrey Immelt is chairman and chief of executive of GE.

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Jeffrey Immelt is chairman and chief of executive of GE.

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General Electric is in talks to acquire Italian defense company Avio from buyout firm Cinven Ltd., which rejected a previous offer from two private-equity funds, according to people with direct knowledge of the talks. GE is headquartered in Fairfield, Conn., but it employs hundreds at units in Lynn, ­Billerica, and Avon. Cinven is ­also considering holding an initial public offering of Avio next year, the people said.

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