General Electric has conceded to the French government’s call to push-back its deadline to purchase Alstom SA’s energy units by three weeks.
GE was asked to extend its $17billion buyout until June 23 as French officials try to confirm more stringent terms.
The French government said the time lapse allowed the various parties involved the space to deal with historic concerns.
French President Francois Hollande and Economy Minister Arnaud Montebourg have both called for better terms in GE’s offer. The country’s leader has repeatedly asked for more robust job guarantees.
GE remains at the negotiating table confirming it intends to “facilitate on-going discussion”.
A GE spokesperson said: “The industrial project we have presented is good for Alstom, for France and for GE, and our discussions have continued to be constructive.
“We view this extension positively.”
However, uncertainty over the takeover has hampered deals on Alstom’s end.