Business

Mass. Mover

GE in talks to buy Italian firm

Jeffrey Immelt is chairman and chief of executive of GE.
Getty Images
Jeffrey Immelt is chairman and chief of executive of GE.

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.

Advertisement