European Union antitrust regulators have extended their deadline for a decision on General Electric’s 12.4 billion euro bid for Alstom’s power equipment business after a request from the U.S. group.
The European Commission, which opened a full-scale investigation last month on concerns that the deal could result in price increases, will now make its decision by Aug. 6 instead of July 8, according to a filing on its website.
“We have agreed with the European Commission to extend by 20 days the deadline for the Phase II investigation. We have a constructive dialogue with the Commission and we continue to work toward a positive outcome,” spokesman Jim Healy said.
Full Content: The Wall Street Journal