GE agrees to extend deadline on Alstom bid to June 23

(Reuters) – General Electric Co has agreed to extend its $16.9 billion bid for the power arm of France's Alstom until June 23 from June 2 at the request of the French government, the U.S. company said on Thursday. GE has encountered resistance from the French government, which has sought to encourage Germany's Siemens as a potential rival bidder. French Industry Minister Arnaud Montebourg in a separate statement welcomed GE's decision to extend the deadline, saying it was in all parties' interests to find a solution before June 23. Alstom also said it welcomed "GE's initiative to extend the period review of the offer by Alstom's board in order to allow the constructive dialogue with the French state to continue." GE Chief Executive Jeff Immelt told an investor conference on Wednesday that the company was still going to "work constructively" with the French government on its bid and that he expects the deal to close.