GE's Alstom Deal Closing Nov. 2, Says CEO Immelt

 GE's Alstom Deal Closing Nov. 2, Says CEO Immelt

General Electric expects its multibillion-dollar Alstom acquisition to close Nov. 2.

Chief Executive Officer Jeff Immelt planned a briefing from Paris Thursday to reveal details of the takeover, reports Bloomberg, citing persons familiar with the matter.

The $9.3 billion deal will see Alstom's power assets join GE Power & Water -- already GE's largest manufacturing unit and the world's top gas turbine manufacturer.

GE's initial $13.4 billion proposal would have been its largest deal to date, but the European Union's approval came with the condition that Alstom's gas turbine business remain in European hands.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...