GE's Immelt firm on closing Alstom power purchase

2015-9-28 Reuters

 General Electric Co (GE.N) Chief Executive Jeff Immelt declined on Friday to consider alternatives to the U.S. conglomerate's planned purchase of Alstom's (ALSO.PA) power business despite resistance from European antitrust regulators.

Immelt was asked about what the company's other options might be, should the 12.4 billion euro ($13.5 billion) purchase of the power and grid divisions of French multinational Alstom collapse.

"I'm just not going to go there," he said. "We like this deal. It is our intention to really close the deal."

GE offered concessions on Thursday to address European concerns about the purchase, which would be GE's largest ever acquisition. The EU competition authority is likely to prolong its scrutiny of the deal to mid-September from August 21.

Source: Reuters