France's Economy Minister Arnaud Montebourg (of Titan tires debacle fame) has written to GE's Jeff Immelt explaining that his offer for Alstom is "unnaceptable",
- *MONTEBOURG SAYS GE-ALSTOM BID UNACCEPTABLE IN CURRENT FORM: AFP
We can opnly imagine the additional terms the French will require. On the bright side, Montebourg did not call GE's offer "ignorant and insulting" like he did Titan's CEO.
As AP reports,
The Minister of Economy, Arnaud Montebourg, wrote Monday to General Electric CEO Jeff Immelt, to indicate that his takeover bid group Alstom was not acceptable "as is" and offer to improve.
"As it stands, we unfortunately can not agree proposals you made, based solely on acquisition of Alstom's activities in the field energy, "said the minister in a letter, which AFP obtained a copy.
Ring any bells...