Alstom Picks General Electric Over Siemens

June 25, 2014 By Linda Hardesty

Alstom Energy ManageThe Board of Directors of Alstom received, on June 20, 2014, an update to the offer from General Electric (GE) to acquire the power and grid businesses of Alstom. It also received on June 20, a revised proposal from Siemens and Mitsubishi Heavy Industries.

The board unanimously decided to issue a positive recommendation of the offer from GE.

Under a complicated deal, GE will acquire, as previously announced, the Thermal Power, Renewable Power and Grid Sectors, as well as corporate and shared services (the Energy Transaction) of Alstom.

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