Boston, MA 02/24/2014 (wallstreetpr) – General Electric Company (NYSE:GE) has been given the green by the Competition Commission of India to go forth with its acquisition of Thermo Fisher Scientific. The deal involves inter-connected steps that will see the company acquiring Thermo Fisher Subsidiary GMC Consolidation entire share capital.
GMC consolidation, is expected to form part of GE healthcare life sciences and will own three Thermo fisher businesses. CCI approved the proposed acquisition as it will not have an adverse effect in the Indian market as the combined market share of the merger will be insignificant.
General electric Company (NYSE:GE) is acquiring GMC as it plans to expand its operations in the discovery and manufacture of innovative new medicines vaccines and vital diagnostics in business. General Electric currently offers technologies tools for the manufacture of vaccines biopharmaceutical and for biomedical research
General Electric Rated as a “Buy”
TheStreet currently rates General Electric as a “Buy” with a B score ratings as it continues to show strengths in its key sectors of operations. The company’s strengths continue to be seen in its revenue growth over the past quarters with earnings per share always on a rise. These strengths continue to outweigh the fact the company has been grappling with high debt levels.
General electric Company (NYSE:GE) industry average has surpassed the industry average of 1.1% compared to the same quarter a year ago. With the increase in revenue trickling down the company, to positively impact the company’s earnings per share. Compared to the same quarter a year ago, the company’s earnings per share has grown by 19.5% with its share price also having risen. The company net income has been the underperformer when compared to the industry average as it has only grown by 4.8% from $ 4 million same period a year ago to $4.2 million.
General electric Company (NYSE:GE) closed the week with a slight dip of 0.72% to close Friday trading session at $24.94.
