General Electric has said that it has extended the deadline on its offer to buy Alstom’s energy assets until June 23, in response to a request by the French Government.
The US industrial conglomerate had previously given the Alstom board until June 2 to approve the $17-billion acquisition deal that has sparked a furore among nationalists and French officials.
“At the request of the French Government, we have agreed, in consultation with Alstom, to extend the deadline for consideration by the Alstom board of our proposal until June 23,” GE said in a statement.
“We have done so to facilitate ongoing discussions with the government. The industrial project we have presented is good for Alstom, for France and for GE, and our discussions have continued to be constructive. We view this extension positively.”
GE has run into opposition from French nationalists over its offer to buy the French company’s energy unit, which builds generators, turbines and transmission systems, and would complement GE’s own power industry division.
The unit accounts for 70 per cent of Alstom’s business, and would leave behind the railway equipment division that manufactures France’s prized TGV high-speed trains.