The board of French rail and energy frim Alstom has to accept an offer from General Electric – paving the way GE’s largest ever industrial acquisition.
The US conglomerate is bidding £10billion for Alstom’s energy business.
The French government agreed to support the deal, but it still needs regulatory approval.
GE chief Jeff Immelt said the deal would be “good for France, GE and Alstom”.
A rival offer from Siemens-Mitsubishi Heavy Industries was rejected.
The deal – which will involve the state buying a 20% stake in Alstom – is expected to be completed in 2015.