Canadian Manufacturing

GE agrees to push deadline for Alstom vote at request of French

U.S.-based GE said vote will be pushed to June 23 at request of French government

FAIRFIELD, Conn.—General Electric Co. (GE) has agreed to give Alstom three additional weeks to consider its US$17-billion offer for the French engineering company’s energy-related operations.

GE said in a statement that it would put off the deadline for a decision until June 23 at the request of the French government.

The original deadline was June 2.

The French government, which is struggling to revive the country’s industrial base, has expressed misgivings about the deal.

It has sought other offers for Alstom, including from GE rival Siemens AG, and it has asked that the Alstom board put off its decision.

Alstom has called GE’s offer “practically perfect.”

Fairfield, Conn.-based GE has said some parts of the deal are open to negotiation.

It called recent talks with the government “constructive.”

Related Posts from the network