By Chelsea Naso (April 25, 2014, 5:19 PM EDT) -- U.S.-based General Electric Co. is in talks to buy the global power division of French engineering group Alstom S.A. for more than $10 billion, despite Alstom's denial of having knowledge of a takeover bid, sources told Reuters on Friday. The sources said the deal could be announced in the coming days, following a meeting of Alstom's board on Friday afternoon, adding that the deal is backed by Alstom's main shareholder, French conglomerate Bouygues S.A., which owns a 29 percent stake. Selling Alstom's power assets, which account for roughly 70 percent of the group's revenue, would leave the French firm known for its high-speed TGV trains as a pure transport business. The French government is against the deal, and is working on alternatives, the Wall Street Journal reported....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
