General Electric Co. extended a deadline to complete its
proposed $17 billion purchase of Alstom SA's energy assets until
June 23, bowing to concerns from French officials about the
takeover.
GE agreed to extend the consideration of its offer by Alstom's
board, which has already endorsed but not approved the bid. The
three-week extension comes at the request of the French government,
a GE spokesman said.
French Economy Minister Arnaud Montebourg has protested the GE
bid and has encouraged German rival Siemens AG to make its own
offer for Alstom's businesses.
GE said it was moving the deadline to "facilitate ongoing
discussions with the government" about its concerns. The American
company has already offered assurances to maintain jobs in France
and to guarantee access to nuclear-power technology if the purchase
is approved.
Siemens hasn't formally submitted a bid for Alstom. GE Chief
Executive Jeff Immelt said this week he expects to be able to
complete a deal.
Write to Ted Mann at ted.mann@wsj.com
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