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Wednesday, September 2, 2015

GE's Immelt Close To Succeeding Where Welch Failed

Immelt's two visits to EU Competition Commissioner Margrethe Vestager during talks was a more effective approach than the bruising tactics used by then-CEO Jack Welch during GE's aborted takeover of That botched deal - worth $42 billion - was scrapped after EU antitrust officials refused to approve it, citing its potentially harmful impact on competition. The Fairfield, Conn.-based company's partial takeover of France's Alstom has raised concerns from the European Commission, the EU's executive branch, that a combined GE-Alstom company would control more than 50% of the market outside China for turbines used to generate electricity from gas-fired power stations.

via http://news.investors.com/business/090215-769299-general-electric-jeff-immelt-on-verge-alstom.htm?ref=HPLNews

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