NEW YORK ( The Deal) -- French power-to-transport conglomerate Alstom on Thursday said it was not aware of any potential takeover offer for the company but without spelling out whether any discussions were taking place with General Electric ( GE).
Citing people familiar with the talks, Bloomberg News reported earlier that GE is in talks to pay more than $13 billion for the maker of high-speed trains and hydro-, coal-, oil- and wind-powered energy plants.
If such a deal happens, it would be the biggest in the 122-year history of Fairfield, Conn.-based GE, which has been run by CEO Jeff Immelt since 2001. He will be able to finance the deal through GE's $57 billion in foreign cash reserves, Bloomberg News reported, citing one of the people familiar with the discussions.
GE shares closed at $26.42 Wednesday on Wall Street, down 0.60% from Tuesday. The stock is up 24.3% from over a year ago.
Shares in Levaillas-Perret-based Alstom soared 11.9% in Paris on Thursday to 27.24 euros, putting its market capitalization at around 7.5 billion euros ($10.4 billion).
Alstom, in its statement, sought to quash speculation about an imminent deal.
"In response to recent speculation in the economic press, Alstom is not informed of any potential public tender offer for the shares of the company," it said, adding that the group "constantly reviews the strategic options of its businesses."
Alstom said it will give an update "on the prospects of its activities" when it reports annual results on May 7.
GE spokesman Greg Farrett said his company doesn't comment on M&A rumors or speculation.