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France Tries to Block GE-Alstom Deal by Strengthening Takeover Law

Ruben Ramirez
Paul Whitfield
5/15/14 10:47 AM EDT
The saga in GE's bid to buy some assets of France's Alstom for more than $15.6 billion continues. The French government, which has already said it opposes the deal, is going one step further by trying to grab new powers that would allow it to intervene in foreign takeovers. France's Economy Minister, Arnaud Montebourg, has openly criticized the proposed Alstom-GE tie-up saying that it could impact French jobs. Montebourg has been pushing for a deal with Germany's Siemens. The Deal's Paul Whitfield reports Siemens is planning to submit a bid over the next four weeks, but GE still has the upper hand because Alstom management likes the terms of what they are offering. Ruben Ramirez reports from Wall Street.
Stocks in this video: GE

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