UPDATE: Morgan Stanley Reiterates On General Electric On News Of Siemens/MHI Offer
In a report published Tuesday, Morgan Stanley analyst Nigel Coe reiterated an Equal-Weight rating on General Electric (NYSE: GE), but removed the $100.00 price target.
In the report, Morgan Stanley noted, “Per the terms of the offer, Siemens would acquire 100% of Alstom's gas business including related service contracts for €3.9bn ($5.3bn). It would offer a job guarantee for three years in France and Germany for the new business after the closing of the transaction and establish its EU headquarters for the combined gas business in France. Siemens would also be prepared to become a long-term shareholder in a combined Transport business some time in the future.”
General Electric closed on Monday at $26.82.
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