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EU: for full-scale probe of $14bn GE/Alstom deal set

By  |  February 18, 2015

General Electric’s $14.08 billion bid for Alstom’s power equipment business is likely to face a full-scale investigation by EU antitrust regulators said on Wednesday.

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    Last June, GE announced that it had won approval from Alstom‘s board for the all-cash offer to buy the company’s Power and Grid businesses, which at that time GE valued at $16.9 billion.

    The move by the European Commission to probe suggests that the EU watchdog may have concerns that the deal could reduce competition, in which case it may demand remedies.

    GE said it was cooperating with the Commission.

    “Our goal is to secure the required regulatory approvals and close the transaction by mid-2015,” the company said in an emailed statement.

    The EU competition authority is expected to announce the probe next week.

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