Surge of news articles suggests that EC will approve GE acquisition of Alstom’s power and grid businesses

I speculated a few days ago that the remedies that GE had submitted to meet the European Commission’s concerns for this deal could well succeed. I also speculated that GE would have addressed concerns in two main areas; gas turbine technology and the business of servicing the Alstom fleet of gas turbines.

The EC decision is not due till late August but I observe that there has been a surge in speculative reports about a likely approval. These are appearing in the business and in the trade press and my guess is that they must be based on some background, unattributable discussions not only with Alstom and GE officials but also with officials of the EC. It does seem that a conditional approval will come in August and with the time needed for implementing the proposed remedies, financial closure could come early in 2016, Q1. Financial closure by the end of 2015 would be a little optimistic.

Reuters: France sees ‘reassuring elements’ in GE/Alstom bid

Nuclear Power Industry News: GE Proposes “Remedies” In Push For Alstom Acquisition

WSJ: GE Says It Submitted Remedies to EU Regulators for Alstom Deal

Recharge: Alstom CEO says GE deal ‘moving ahead’ as pair await EU verdict

The Street: GE’s $13.8 Billion Alstom Deal Likely to Get EU Approval, Alstom CEO Says

 

 

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