General Electric announces plan to split into three separate companies

GE, 129 years old and once America's most valuable corporation, says new companies will focus on energy, healthcare and aviation

General Electric said on Tuesday it would split into three public companies as it seeks to simplify its business, pare down debt and breathe life into a battered share price.

The split marks the end of the 129-year-old conglomerate that was once the most valuable US corporation and a global symbol of American business power. GE shares jumped 7% in early trading, reaching a nearly three-and-a-half-year high.