General Electric Co. of Britain and U.S.-based...

General Electric Co. of Britain and U.S.-based General Electric Co. said they plan to merge their European consumer products, medical equipment and some electrical divisions. The U.S.-based GE plans to pay the British-based firm $579 million (325 million pounds) in cash as part of the merger of their European operations, the companies said. The annual revenue of the combined European operations of the two General Electrics would come to about $2.45 billion.