The European Union spoiled General Electric Co. Chief Executive Officer Jack Welch's retirement when it nixed his $53 billion plan to buy Honeywell International Inc. (HON) Thirteen years later, his successor Jeffrey Immelt's legacy may be defined by his ability to prevent history from repeating itself as he seeks to acquire Alstom SA. (ALO) GE may announce plans to buy the French builder of power plants as soon as next week, according to people with knowledge of the proposed deal. Lawyers say GE has learned its lesson after Welch ruffled feathers of then-EU Competition Commissioner Mario Monti and refused to budge when the regulator warned that concessions were needed to get the Honeywell deal through. "With hindsight, the GE-Honeywell prohibition was from a Wild West era," said Alec Burnside, a lawyer with Cadwalader Wickersham & Taft LLP in Brussels.
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