General Electric today overcame the last big hurdle to acquire Alstom's power business, which includes two facilities in Chattanooga.
The $13.5 billion deal received the OK from European regulators after officials agreed that G.E. had adequately addressed their antitrust concerns, according to The New York Times.
The deal is meant to help G.E. extend its role in the business of providing electrical utilities with generating equipment and power-grid infrastructure at a time the world is increasingly moving away from coal and toward cleaner natural gas, solar and wind energy.
In Chattanooga, France-based Alstom has two facilities on Riverfront Parkway. One location, a boiler services facility, employs about 200. Next door, a turbomachinery production site employs about 150 people.
See more in Wednesday's Times Free Press.