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Stock Market & Financial Investment News

News Breaks
April 30, 2014
06:16 EDTSI, GE, ALSMYAlstom says 'considering' acquisition of Energy unit by GE
The Board of Directors of Alstom (ALSMY) announced that it has received a binding offer from General Electric (GE) to acquire its Energy activities. The scope of the transaction includes the Thermal Power, Renewable Power and Grid Sectors, as well as corporate and shared services. With 65,000 employees, these businesses registered EUR14.8B in sales in FY12/13. The proposed price is a fixed price representing an Equity Value of EUR12.35B. Should this offer be approved and completed, Alstom would refocus on its Transport activities. Alstom would use the sale proceeds to strengthen its Transport business and give it the means of an ambitious development, pay down its debt and return cash to its shareholders. The Board of Directors of Alstom, acknowledging unanimously the strategic and industrial merits of this offer and having noted the publicly announced undertakings by GE, has decided to set up a committee of independent directors, led by Jean-Martin Folz, to review before the end of May the proposed transaction. In the context of this binding offer, Alstom may not solicit offers from third parties for the acquisition of all or part of its Energy business. It has however reserved the right to respond to unsolicited offers for its entire Energy business and engage in discussions with bidders demonstrating a serious interest that could lead to a superior offer for Alstom. If, after having recommended GEís offer, following its review, the Board of directors were to support another transaction, Alstom would owe GE a break-up fee equal to 1.5% of the purchase price. The Board also reviewed a declaration of interest received from Siemens (SI), regarding an alternative transaction. Siemens will have a fair access to information needed to make, should it decide to do so, a binding offer. This declaration will be reviewed in light of Alstomís corporate interest and the interest of all stakeholders, in accordance with the commitments made.
News For ALSMY;GE;SI From The Last 14 Days
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July 30, 2015
17:50 EDTGEGE exec sees $10B in projects going overseas due to Ex-Im trouble, Reuters says
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July 29, 2015
05:30 EDTGEGE Healthcare to invest $1B for training and education solutions by 2020
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July 28, 2015
10:07 EDTALSMY, GEGE in talks to sell assets to Ansaldo Energia, Reuters reports
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July 27, 2015
12:46 EDTALSMY, GEAlstom to accept EUR300M hit to assist GE deal completion
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06:38 EDTGEGE intends to be 'sizable' player in energy storage market, Reuters reports
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July 24, 2015
15:17 EDTGECapital One, Apollo Global weigh final bids for GE unit, Bloomberg says
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July 23, 2015
08:11 EDTGEGE's CDF unit extends inveotry finance program with Husqvarna Group
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July 22, 2015
07:23 EDTGE, ALSMYFrench minister 'reassured' by elements of Alstom, GE deal talks, Reuters says
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July 20, 2015
16:20 EDTGEFederal Reserve establishes enhanced standards for GE Capital
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09:04 EDTGEGE chooses Microsoft Office 365 fro employee collaboration and productivity
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06:16 EDTGE, ALSMYAlstom sees General Electric deal completed in coming months, Reuters reports
Alstom (ALSMY) expects to complete the transaction with GE (GE) in the coming months, Reuters reports. Reference Link

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