Deals
GE Revises Alstom Bid With Alliances to Court France
This article is for subscribers only.
General Electric Co. refined its bid for Alstom SA’s energy assets by adding alliances in rail and nuclear technology to head off a Siemens AG-led counterproposal and win France’s backing.
The original $17 billion offer will be pared as GE sells its rail-signaling operations to Alstom, which in turn will keep a stake in joint ventures being formed in power grids and renewables, Chief Executive Officer Jeffrey Immelt said today in Paris, without giving a figure. GE and France’s Alstom also will create a nuclear-energy partnership.