GE's Immelt Stands by Intent to Close Alstom Power Purchase

General Electric Co Chief Executive Jeff Immelt declined on Friday to entertain an alternative to the U.S. conglomerate's planned purchase of Alstom's power business despite resistance from European antitrust regulators.

On GE's second-quarter conference call on Friday, Immelt was asked about what the company's "Plan B" might be should it have to walk away from the $13.5 billion purchase of the power and grid divisions of French multinational Alstom.

"I'm just not going to go there," he said. "We like this deal. It is our intention to really close the deal."

GE offered concessions on Thursday to counter European concerns about the purchase, which would be GE's largest ever acquisition. The EU competition authority is likely to extend its scrutiny of the deal to mid-September from Aug. 21.

Should the Alstom deal collapse, analysts and investors have speculated that GE would likely pursue other acquisitions to boost its core industrial businesses, buy back more shares, or a undertake a combination of both to help make up for the financial benefits GE expects from the Alstom acquisition.

Earlier on Friday, GE raised its 2015 outlook for its industrial manufacturing businesses as it reported a 5 percent increase in its quarterly industrial profits. 

(Reporting by Lewis Krauskopf in New York)