Jeffrey Immelt arrived in France today as the General Electric Co. chief executive officer makes a final push to sell the government and unions on its bid for Alstom SA’s energy assets over an offer led by Siemens AG.
General Electric Co. is in talks with France to refine guarantees on jobs, planned investments and access to nuclear technology under its $17 billion bid for Alstom SA’s energy assets ahead of a June 23 offer deadline, people familiar with the matter said.
General Electric Co. plans another round of lobbying meetings with French officials on its $17 billion offer for Alstom SA’s energy assets as Siemens AG weighs a bid with Mitsubishi Heavy Industries Ltd., a person familiar with the matter said.
General Electric Co., locked in a tussle with Siemens AG to acquire Alstom SA’s energy business, won’t seek a partner to counter the German company’s planned joint bid with Mitsubishi Heavy Industries Ltd.
Siemens AG received a twin boost from the French government in its bid to beat General Electric Co. to Alstom SA’s energy operations, as France’s industry minister praised the German company hours after extending the state’s influence over foreign takeovers.
General Electric Co.’s industrial businesses will consider takeovers as the company targets 70 percent of sales in the sector, according to the executive in charge of its unit that manufactures wind-, steam- and gas- powered electrical turbines.