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

When asked about General Electric Co. (GE)  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. 

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