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EU: GE reported to make final pitch for Alstom bid at hearing

By  |  July 1, 2015

According to Politico GE executives will make a last-ditch attempt Thursday to win support from the European Commission for its €12.4 billion bid for the energy business of Alstom.

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    It is believed some of the world’s largest manufacturing and energy firms will attend the closed-door hearing, where Commission investigators will defend their opposition before senior officials and member countries.

    Firms like Siemens, MMI and Toshiba are expected to back the Commission’s view that the acquisition would hand GE too large a share of the market for heavy-duty gas turbines and give them too much market power.

    The Commission formally notified GE of its objections to the deal on June 12. Thursday’s hearing is GE’s last chance to persuade the Commission to change its mind.

    Full content: Politico

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