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APR 30, 2014 - TheStreet

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Alstom Chooses GE as Preferred Suitor

PARIS (The Deal) -- France's Alstom on Wednesday gave its tentative approval to General Electric's binding $13.5 billion offer for its power unit but said a deal may have to wait until the end of May, leaving Siemens time to conduct due diligence and make a rival bid. Fairfield, Conn.-based GE is offering a total $16.9 billion for Alstom's thermal power, renewables and grid operations, including the $3.4 billion of cash on the unit's books. Based on enterprise value, the deal prices the operations at 7.9 times pro forma Ebitda for the financial year ending September 2013, the U.S. ... Read More

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