NEW YORK (TheStreet) -- Shares of General Electric Co (GE) are lower by 1.54% to $26.94 in afternoon trading Monday, as European Union regulators request extra information regarding its $13.85 billion plan to buy most of Alstom's (ALSMY) energy business, according to Bloomberg.
Regulators have stopped the clock on their review until they get the additional information, Bloomberg reports.
In February, the European Commission started a full investigation to look at competition implications of the deal.
However, GE is unlikely to gain unconditional clearance for its bid for the power equipment business, according to Reuters.
General Electric is a diversified infrastructure and financial services company with products ranging from aircraft engines, power generation, oil and gas production equipment, and household appliances to medical imaging, business and consumer financing and industrial products.
The company is based in Fairfield, Conn.
Separately, TheStreet Ratings team rates GENERAL ELECTRIC CO as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL ELECTRIC CO (GE) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."