GE bid process for Alstom going as expected
USA, Connecticut: General Electric (GE)'s process of the $ 16.9 billion bid for the Alstom's power turbine and grid business is going as expected according to the president of GE's power unit.
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USA, Connecticut: General Electric (GE)’s process of the $ 16.9 billion bid for the Alstom’s power turbine and grid business is going as expected according to the president of GE’s power unit.
GE made its offer to Alstom late last month, however the French government has weighed in on the talks to consider better offers. Alstom will wait until the end of the month to make a decision, reports Reuters.
Steve Bolze, president of GE Power & Water, said: “The process we’re going through is as we expected…You have steps you have to go through. We’re kind of where we thought we would be.”
French Energy Minister Ségolène Royal told magazine Paris Match that GE’s offer is “a very good opportunity” for the engineering group. However, Economy Minister Arnaud Montebourg has openly criticised the Alstom-GE deal and instead supported a deal with Germany’s Siemens AG.
Source: Reuters
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