General Electric is on the acquisitions trail in Europe, aiming to buy up divisions of ailing industrial groups whose share prices are suffering.
GE Europe is said to have established an acquisitions team based in Brussels and London. The team is reported to be on the lookout for takeovers in the power generation and industrial systems markets.

GE's recent unsuccessful bid for Honeywell was blocked by the European Commission over monopoly fears, but the US giant is showing no signs of letting up. It is opening a new hq in Brussels.

The present state of financial markets means that many industrial groups are suffering from depressed valuations. Potential targets are said to include divisions from Tyco, ABB, Alstom and Invensys.

Analysts have long thought that the struggling Tyco corporation to be open to viable bids. Its successful ADT Fire and Security business is likely to be one of the divisions most vulnerable. GE is also considering a bid for ABB's structured finance division.

Source

Electrical and Mechanical Contractor