GE CEO Immelt says expects Alstom deal to close
May 21 (Reuters) - General Electric Co Chief Executive Jeff Immelt said on Wednesday that GE is still going to "work constructively" with the French government regarding its offer to acquire the power business of France's Alstom and that he expects the deal to close.
GE has encountered resistance from the government in its $16.9 billion proposal, while Germany's Siemens looms as a potential rival bidder. But Immelt told an investor conference on Wednesday that, "We wouldn't have started if we didn't think we could finish."
"It's a deal that's executable. It's a deal we're experienced in. It's a deal we expect to close," Immelt said at the Electrical Products Group conference. (Reporting by Lewis Krauskopf)