General Electric to buy French power company
DOI: 10.1063/PT.5.029190
New York Times : A deal has been approved that will allow US power company General Electric (GE) to buy the electrical generation and transmission division of French company Alstom for $13.5 billion. The purchase, which will be the largest acquisition in GE’s history, will extend the company’s global leadership in the field. Approval followed a year of negotiations by GE chair Jeffrey Immelt and an investigation by the European Union to make sure GE would not gain a monopoly over Europe’s electricity-generation market. GE succeeded by agreeing to divest itself of some of Alstom’s assets by selling them to Italian engineering company Ansaldo Energia and by allowing the French government to also invest. Most important to Immelt was gaining Alstom’s gas-turbine business because GE leads the world in that field.
