NEW YORK (TheStreet) -- Shares of General Electric Co. GE are slightly higher in pre-market trading this morning after the company improved its offer for French train and turbine maker Alstom, including the impact on jobs, an official at French President Francois Hollande's office said, Reuters reports.
The French president met with GE CEO Jeff Immelt. Until now the French government had criticized GE's $16.9 billion bid for Alstom's power arm and earlier this month passed a decree giving itself an effective veto on any deal.
Last night, Immelt told French lawmakers his group would make detailed commitments to increase jobs in France, including by opening new sites.
He also said GE was considering a tie-up in rail signaling that would give Alstom control of that business, addressing government concerns that a straight sale of the power business would weaken the once-bailed out engineering group by reducing it to its smaller transport arm, according to Reuters.
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 a few notable strengths, 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, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."