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.

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