April 24, 2014 / 11:30 AM / 3 years ago

Alstom shares jump on report of GE takeover interest

PARIS (Reuters) - Shares in Alstom jumped over 17 percent on Thursday after Bloomberg reported that General Electric (GE.N) was in talks to buy the French turbine and train maker for about $13 billion.

A General Electric Company (GE) logo is seen on a toggle switch package in New York January 18, 2012. REUTERS/Shannon Stapleton

Shares in Bouygues (BOUY.PA), Alstom’s biggest shareholder with a 29 percent stake, were 5 percent higher.

Alstom said in a statement it was not informed of any potential public tender offer for its shares and would update investors on its prospects on May 7, when it releases annual results.

“GE certainly has the means, and even an interest in the majority of Alstom’s activities,” a Paris-based trader said. “It’s active in power, transport and grid. The price mentioned could be justified by potential synergies.”

Reporting by Natalie Huet and Blaise Robinson; Editing by James Regan

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below