GE’s Immelt: Wasn’t “naive” on Areva bid

December 15, 2009

GE/As GE officials have talked up their post-NBC M&A strategy over the past few weeks, they keep coming back to the one that got away — French nuclear reactor maker Areva’s transmission and distribution business. Areva in November decided not to accept bids from U.S. conglomerate General Electric Co or Japanese industrial Toshiba in favor of a bid from a French consortium, in a move that many saw as politically influenced.

GE Chief Executive Jeff Immelt told investors on Tuesday he was not surprised by that turn of events. “We were never naive about where Areva was going to go,” Immelt said. “We were in but we were not stupid.”

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see