French authorities said Wednesday that they have extended approval for General Electric to acquire energy firm Alstom.
According to reports, economy minister Emmanuel Macron announced clearance for the $13.5 billion takeover that was first announced earlier this year. The government reviewed the deal under new legislation that requires any foreign investment in strategic sectors to be scrutinized.
Reports say the companies still need approval by Alstom shareholders. That vote is scheduled to take place on December 19. General Electric and Alstom added that a total of 20 antitrust authorities around the globe will also need to clear the deal.
The firms say the expect to finalize the merger in the middle of next year.
Full content: DealBook
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI