January 21, 2014 / 8:40 AM / in 4 years

GDF-Suez boss says no plans for major acquisitions

PARIS, Jan 21 (Reuters) - GDF Suez Chief Executive Gerard Mestrallet said on Tuesday the utility had no plans for a major acquisition and would grow mainly organically after a Reuters report that it had approached a Canadian company about a takeover.

Sources told Reuters on Monday that GDF Suez was rebuffed late last year after it approached Canada-based Talisman Energy Inc about a takeover as part of an effort to expand outside Europe via acquisitions worth as much as $10 to $20 billion.

“We have no plans for a major acquisition,” he said speaking at a gathering for media in Paris. “I formally deny that we have made a bid for the ‘T’ company, as mentioned in the press.”

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