Alstom Denies Reports Of Upcoming GE Takeover

NAW Staff, Thursday 24 April 2014 - 13:16:59

Alstom has issued a statement denying reports that GE is in talks to buy the France-based industrial company. Both conglomerates are major wind turbine manufacturers.

Citing unidentified people with knowledge of the matter, Bloomberg reported that the deal could see GE pay about $13 billion and would be the U.S.-based company's largest-ever acquisition.

Although Alstom's stocks jumped in Paris following the report, Alstom has released a statement saying, “In response to recent speculation in the economic press, Alstom is not informed of any potential public tender offer for the shares of the company.”

However, the company adds, “The group constantly reviews the strategic options of its businesses. Alstom plans to communicate as scheduled on May 7 its annual results and will use this opportunity to give an update on the prospects of its activities.”

Bloomberg’s anonymous sources said that a transaction could be announced as early as next week. When reached for comment, GE said it does not comment on rumors and speculation.





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