GE CEO Jeffrey Immelt met with Hollande in Paris, and Bloomberg reports the French government does not oppose GE's proposal even though the meeting centered on job protection and the maintaining the independence of France's nuclear industry.
French officials have urged Alstom to also consider a bid from Germany's Siemens, but the government does not favor either option, according to the report.
The $13 billion deal would be the largest acquisition in GE's history.
The stock ticked upward 0.41% to $26.71 at 11:18 a.m. on Monday.
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Separately, TheStreet Ratings team rates GENERAL ELECTRIC CO as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL ELECTRIC CO (GE) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: