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GE expected to win EU approval for $14 billion Alstom deal

Discussion in 'General Business and Entrepreneurship' started by EF-Roger, Aug 15, 2015.

  1. EF-Roger

    EF-Roger Entrepreneur

    General Electric is expected to secure EU approval for its proposed 12.4-billion-euro ($13.8 billion) bid for French peer Alstom's power business, its largest ever deal, two people familiar with the matter said on Friday.

    The green light from the European Commission will come 14 years after it rejected General Electric's (GE) attempt at a $42 billion takeover of Honeywell International, despite clearance by U.S. authorities.

    The EU veto resulted in a barrage of criticism from U.S. officials, including U.S. President George W. Bush. The current deal has the backing of the French state, which will buy up to 20 percent of Alstom from construction group Bouygues once the GE bid is cleared.

    Read more Exclusive: GE expected to win EU approval for $14 billion Alstom deal | Reuters

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