General Electric (NYSE:GE) Buys French Power Player

General Electric (NYSE:GE) has reportedly planned to buy power-conversion specialist Converteam Group. General Electric (NYSE:GE) Buys French Power Player General Electric (NYSE:GE) announced that it is planning to acquire Converteam Group, the French power-conversion specialist, for more than $3.5 billion. The acquisition is intended to extend its portfolio of high-efficiency automation equipment for the oil and gas thermal-power and renewable energy markets. General Electric (NYSE:GE) Energy Chief Executive John Krenicki Jr. said in a statement, "Converteam’s world-class people and energy-efficient products and services connect a lot of pieces in our portfolio, which will enable us to offer integrated solutions to our customers.” General Electric Co. (NYSE:GE) stocks were at 19.86 at the end of the last day’s trading. There’s been a 8.6% change in the stock price over the past 3 months. General Electric Co. (NYSE:GE) Analyst Advice Consensus Opinion: Moderate Buy Mean recommendation: 1.88 (1=Strong Buy, 5=Strong Sell) 3 Months Ago: 2 Zack’s Rank: 13 out of 28 in the industry
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