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July, 29, 2016

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GE extends Alstom deal deadline to June 23 in response to French request

NEW YORK--General Electric said Thursday that it has extended the deadline on its offer to buy Alstom's energy assets until June 23, in response to a request by the French government.

The U.S. industrial conglomerate previously had given the Alstom board until June 2 to approve the US$17 billion acquisition deal that has sparked a furor among nationalists and French officials.

"At the request of the French government, we have agreed, in consultation with Alstom, to extend the deadline for consideration by the Alstom board of our proposal until June 23," GE said in a statement.

"We have done so to facilitate ongoing discussions with the government. The industrial project we have presented is good for Alstom, for France and for GE, and our discussions have continued to be constructive. We view this extension positively."

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