NEW YORK (TheStreet) -- General Electric Co. (GE) announced today that it's acquiring Monsal, a privately held U.K.-based water, waste, advanced anaerobic digestion, and integrated biogas-to-energy business for an undisclosed amount.
The purchase will allow GE to "help municipalities and industrial manufacturers shift from disposing wastewater treatment byproducts to generating renewable energy and other value from their streams," the company said.
"The acquisition of Monsal will enhance GE's wastewater treatment product offerings and further GE's commitment to energy reduction in wastewater treatment," GE added.
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Separately, Alstom (ALSMY) announced on Tuesday that will be seeking shareholder approval for its $16.9 billion deal with GE in the fourth quarter, Reuters reports.
Shares of GE are up 0.44% to $26.40 in mid-morning trading on Tuesday.
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 some important positives, 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."