General Electric Rumored to Buy Alstom for $13B or More
According to a Bloomberg report from late Wednesday afternoon, General Electric (NYSE: GE) may be negotiating to buy Alstom SA for $13 billion or more. Alstom is a french company that builds trains and power plants.
The acquisition may be announced “as early as next week,” Bloomberg said. The $13 billion figure would be a 25 percent premium from Alstom's current market cap.
Alstom shares jumped 18 percent in Paris trading.
Just hitting news wires, Le Figaro is reporting General Electric is only interested in Alstom's energy assets, not transportation assets.
General Electric shares were initially sold in Wednesday's post-market trading to a low of $26.25, but have since recovered and are now trading up 0.6 percent to $26.58.
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