General Electric Co. (GE - Get Report) is seriously considering a possible breakup, according to Nelson Peltz, CEO of Trian Fund Management.

When asked about General Electric Co. (GE - Get Report)  at The Deal's Corporate Governance conference on Thursday, June 7, Peltz said that he believed that a breakup is possible. Trian's Ed Garden sits on GE's board.

"Well, when a man says everything is on the table, I mean you got to take him at his word and I would definitely take him [GE CEO John Flannery] at his word," Peltz said when asked by TheStreet's Jim Cramer if GE was seriously considering a breakup.

Shares of GE rose slightly on Thursday. 

Follow The Deal's conference here.

This story has been updated to include additional details.