A PYMNTS Company

France: Train, turbine maker catches General Electric’s eye

 |  April 24, 2014

General Electric has reportedly approached French turbine and train maker Alstom with a takeover bid, but after stocks rallied for Alstom Thursday the company said it was not aware of such an offer.

In a statement, the French firm said it would release an update on its “prospects of its activities” on May 7, and a spokesperson did not deny that an acquisition could be in the future.

According to an unnamed source, the two companies have been in regular talks about potential joint ventures, but they were not discussing a sale, despite Bloomberg reports that said otherwise.

According to reports, Alstom was forced to cut costs by $2 billion last year as the company struggles throughout EU in weak emerging markets and sluggish economic growth.

Full Content: Wall Street Journal

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