I'd like to go a week without a GE post but. because they are in so many areas of the energy biz, nuclear, wind, solar natgas turbines, oilfield equipment and all kinds of stuff that runs on electricity, I can't.
From Deal Journal:
Today, General Electric continued its wave of energy deal making with an agreement to buy 90% of French power-equipment maker Converteam for $3.2 billion.
The deal price amounts to about 15 times Converteam’s earnings before interest, taxes, depreciation and amortization for 2010, according to analysts. Credit Suisse said GE is assuming an Ebitda multiple of 11.4 times, based on 2012 estimated financials.
GE has scooped up $11 billion worth of energy companies in recent months, including the February deal for a division of John Wood Group for $2.8 billion, and last fall’s agreement to buy Dresser for $3 billion.
GE shares are down a fraction in early trading, to $19.64.
Here is a snapshot of the early Wall Street reaction to GE’s latest deal toy...MORE