GE agrees to extend deadline on Alstom bid to June 23


GE (GE +0.2%) says it has agreed to extend its bid for Alstom's (ALSMY) power business until June 23 from June 2 at the request of the French government, which has offered resistance to GE's proposal.

GE says it is moving the deadline to "facilitate ongoing discussions with the government" about its concerns; it already has offered assurances to maintain jobs in France and to guarantee access to nuclear power technology if the purchase is approved.

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Comments (10)
  • The Average Investor
    , contributor
    Comments (102) | Send Message
     
    Not sure I understand the first comment: GE (GE +0.2%) says it has agreed to extend its bid for Alstom's (OTCPK:ALSMY) power business until June 23 from June 2 at the request of the French government, which has offered resistance to GE's proposal.

     

    Immelt is voluntarily extending the bid by three weeks to continue the embarrassing and abusing treatment from the socialist French Gov't? Something smells in Paris...
    22 May 2014, 03:05 PM Reply Like
  • duhaus
    , contributor
    Comments (320) | Send Message
     
    Apparently GE really wants this deal to go through so I don't get where the "embarrassing" comes in unless your ego is involved. Better to leave that out of investing decisions.
    22 May 2014, 04:38 PM Reply Like
  • Nettligent
    , contributor
    Comments (1346) | Send Message
     
    GE was in negotiation with Alstom and had a headway. It is fair for SI with more information and time to prepare themselves. GE has no choice but accept the request. It is fair enough. If there is anything, we should put everything on the table. Don't play childish game.
    I whoheartedly supported the GE Alstom merger and hope to see both Alstom Energy and Transport under new GE Alstom team.
    As the story unfold in front of our eyes during the past 3 weeks, the warning signs are everywhere.
    "Paris, Alstom has a problem." Then " Paris, Alstom has a same bigger problems again. We cannot breath and we do not have enough air." Hope for the best and prepare for the worst.
    22 May 2014, 07:08 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (13488) | Send Message
     
    Maybe GE is desperate to offshore its profit like every other big American company who's revenue growth is stalling under a zombie economy ready to have another downturn. The question is why they chose France? What a stupid choice. France will never agree to put one of its major businesses in thrall to a mega US corporation without so many strings attached it can't be a good deal.
    23 May 2014, 03:18 AM Reply Like
  • dakota444
    , contributor
    Comments (98) | Send Message
     
    Stupid is as Stupid does
    22 May 2014, 03:37 PM Reply Like
  • cjay18
    , contributor
    Comments (541) | Send Message
     
    This makes sense and strongly suggests that the Alstom deal is very good for GE. GE has not raised its bid, merely given the Germans another chance to take Paris (see May 1940). But, apparently the Germans want special information and Alstom has refused to provide it. If this goes much longer, the socialists will be out and the conservatives will be back in charge. Meanwhile, the French have embarrassed themselves by buying the wrong sized trains...from Alstom. Only in France....A mere error they protest.
    22 May 2014, 05:11 PM Reply Like
  • rrr999
    , contributor
    Comments (12) | Send Message
     
    Hopefully, GE knows what they're doing. It just doesn't look like it at the moment.

     

    They're taking a lot of abuse, but they must think it will be worth it the long run. Hopefully they are correct.

     

    One person in the French government has this much power? Hard to imagine.

     

    A better approach might have been to leave the deadline date (June 2nd) alone and make another offer on June 3rd, for a lot less money (how about 11.5 Billion ?).
    22 May 2014, 05:30 PM Reply Like
  • Nettligent
    , contributor
    Comments (1346) | Send Message
     
    Alstom should provide all the requested information to Siemens along with deadline, do not hold back anything. GE Siemens Alstom are professional and deserve respects.
    Only incompetent and impotent people do not know what they want in life.
    22 May 2014, 07:04 PM Reply Like
  • Nettligent
    , contributor
    Comments (1346) | Send Message
     
    My recommendation: GE Alstom for Energy Business. Siemens Alstom for Transport Business. Everybody will be happy.
    22 May 2014, 10:57 PM Reply Like
  • bberuch
    , contributor
    Comments (314) | Send Message
     
    why extend bid that is such apolitical football????
    27 May 2014, 07:09 AM Reply Like
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