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BRUSSELS, July 16 (Reuters) - U.S. conglomerate General Electric has offered concessions in an attempt to allay EU regulatory concerns and gain approval for its 12.4-billion-euro ($13.49 billion) bid for Alstom's power unit. The company submitted its proposal on Thursday but did not provide details. "GE confirms it has submitted remedies to the European Commission in relation to the GE-Alstom transaction. These remedies address the concerns of the Commission and at the same time preserve the economic and strategic value of the deal," the company said in a statement. The concessions will have to address the European Commission's worries that the deal could hurt competition as it would result in just two gas turbine companies in Europe - GE and German rival Siemens. The EU competition authority is scheduled to decide by Aug. 21 whether to clear GE's ever biggest deal or block it. ($1 = 0.9195 euros) (Reporting by Foo Yun Chee; Editing by Bernard Orr)
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Alstom
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CODE : ALO.PA |
ISIN : FR0010220475 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Alstom is based in France. Alstom is listed in France, in Germany and in United Kingdom. Its market capitalisation is €UR 3.3 billions as of today (US$ 3.5 billions, € 3.3 billions). Its stock quote reached its highest recent level on February 09, 2007 at €UR 98.98, and its lowest recent point on April 26, 2024 at €UR 15.05. Alstom has 219 127 000 shares outstanding. |