Fiery Friday: Acquiring Alstom’s Energy

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“GE announced today that it made a binding offer to acquire the thermal power, renewable energy and electricity grid businesses of the French engineering conglomerate Alstom for $13.5 billion in cash. Jeff Immelt, GE chairman and CEO, said in a statement that the strategic bid would allow GE to boost its presence and scale in the growing global power generation sector. Immelt said power and water was “core to the future of GE” and one of the company’s “higher growth and [higher] margin industrial segments.”

Read the full article on GE Reports! ->

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