GE Clears Last French Hurdle to Clinch Alstom Deal

Jeffrey Immelt clinched General Electric Co.’s biggest acquisition ever, the $17 billion purchase of Alstom SA’s energy assets, after the resolution of the French government’s last condition for the deal.

Nearing his 13th anniversary as GE’s chief executive officer, the 58-year-old Immelt prevailed over initial French opposition to a transaction with a local industrial icon. His lobbying of French officials assured GE a record prize more than a decade after European regulators thwarted predecessor Jack Welch’s bid for U.S. rival Honeywell International Inc.