GE set to pass European Commission test

Alstom CEO Patrick Kron told a sales call yesterday that the deal for his company to be acquired by General Electric is set to clear its final hurdle.

The $13.8bn Alstom deal, which would be GE's biggest acquisition to date, is likely to pass the European Commission's anti-competition review, according to Kron who delivered the verdict on a sales call.

"We have obtained unconditional clearance in the majority of jurisdictions, including a number of large countries," Kron said. "This is ongoing in the other remaining one and we keep our strong confidence for closing in the upcoming months."

General Electric CEO Jeff Immelt expressed confidence last week that the deal will hit its early-to-mid-September target closing date. GE proposed a remedy that addresses EU regulators' concerns while maintaining the deal's strategic rationale, he said.

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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...