EU: GE boss to meet EU antitrust chief over $13.8 billion Alstom deal

General Electric’s CEO will meet Europe’s antitrust chief on Tuesday, according to a source, in what is expected to be a push for unconditional EU approval for its ($13.8 billion bid for an Alstom business.

Jeff Immelt will meet European Competition Commissioner Margrethe Vestager on Tuesday afternoon according to Bloomberg.

GE is seeking to convince the Commission to approve its proposal to buy French company Alstom’s power equipment business, without having to make concessions.

GE has until next month to offer concessions if it cannot convince the EU enforcer.

The EU’s competition authority, which is due to decide on the deal by Aug. 6, has warned of possible price rises because the merger would remove one of GE’s three main rivals in the manufacturing of heavy-duty turbines for gas-fired power plants.

The Alstom deal, which would be the biggest acquisition in GE’s history, stands to expand GE’s installed base of power turbines, which would allow the U.S. company to earn more revenue from servicing the equipment.

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.