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Last $27.31 USD
Change Today +0.23 / 0.85%
Volume 28.3M
As of 8:04 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

general electric co (GE) Key Developments

GE Reportedly Limits Bidders For Sponsored Finance Business To 12

General Electric Company (NYSE:GE) (GE) has limited the bidders for its unit. Three sources stated that the company has sent out nondisclosure agreements (NDAs) to potential bidders of its sponsored finance business, which includes GE Antares Capital. They added that GE is limiting the field to 12 interested buyers. Part of the sale includes a joint venture between GE has with Ares Management, L.P. (NYSE:ARES), the people said. According to the banker, so far, Apollo Global Management, LLC (NYSE:APO), Ares and Mitsubishi UFJ Financial Group, Inc. (TSE:8306) have signed the NDAs. Two other sources added that Macquarie Group Limited (ASX:MQG) is in talks to partner with Ares to make a bid for GE’s sponsored finance unit. According to the news report, tt’s unclear if Macquarie has signed the NDA. Recently, Bloomberg reported that Apollo, Ares and SunTrust Banks, Inc. (NYSE:STI) were weighing making offers for the GE unit. Citigroup is advising on the deal. First rounds bids are due in May 2015, Bloomberg said. It further added that the unit is likely to fetch more than $10 billion. According to the report, Executives for Apollo, Ares, GE, Macquarie and SunTrust declined comment. Mitsubishi could not be reached for comment.

PZU Reportedly Seeks To Acquire Three Large Caps

Powszechny Zaklad Ubezpieczen Spólka Akcyjna (WSE:PZU) is reportedly interested in acquiring Alior Bank Spólka Akcyjna (WSE:ALR); Raiffeisen Bank Polska S.A., PKP Energetyka Sp. z o.o. and also a unit of General Electric Company (NYSE:GE).

Siemens Reportedly Plans To Bid For Assets Of Halliburton

Siemens Aktiengesellschaft (DB:SIE) is reportedly planning to bid for the assets of Halliburton Company (NYSE:HAL) worth up to $10 billion. As per the report, the other potential bidders are General Electric Company (NYSE:GE), Emerson Electric Co. (NYSE:EMR) and Danaher Corp. (NYSE:DHR). Halliburton and Baker Hughes Incorporated (NYSE:BHI) ought to sell up to four businesses in order to get regulatory approval for their $34.6 billion merger.

SunTrust, Apollo, Ares Reportedly Eyeing GE’s Buyout-Lending Unit

Potential suitors are eyeing unit of General Electric Company (NYSE:GE) (GE). Bloomberg reported, citing people with knowledge of the matter as saying that SunTrust Banks, Inc. (NYSE:STI), Apollo Global Management, LLC (NYSE:APO), and Ares Management, L.P. (NYSE:ARES) are considering offers for buying GE’s unit that lends to private-equity firms in the United States. The news report mentioned that GE is working with Citigroup to sell the business, expected to be worth $10 billion. The division is among the $200 billion of assets put up for sale in April 2015. GE is also working with Bank of America Corp on a separate sale process for its European private equity-lending arm, which has about $6 billion in loans, Bloomberg report mentioned. According to the news report, Sue Bishop, a GE Capital spokeswoman, declined to comment. On Monday, Reuters reported that GE is in early-stage talks with Wells Fargo & Company (NYSE:WFC) for selling its $74 billion U.S. commercial lending and leasing portfolio.

GE to Supply Gas Turbines for 700MW Power Plant in US

GE will supply two 7F.05 gas turbines for Advanced Power's 700MW Carroll County Energy Project in northeast Ohio, US. GE will provide one D650 steam turbine and one Rapid Response combined cycle system for the power plant, and also service the plant under a 20-year agreement. Using natural gas, the plant can generate power sufficient to power 750,000 homes. It will replace the aging power plants in the region.

 

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Industry Analysis

GE

Industry Average

Valuation GE Industry Range
Price/Earnings 100.0x
Price/Sales 1.9x
Price/Book 2.5x
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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