GE to go alone on Alstom bid

|About: Alstom ADR (ALSMY)|By:, SA News Editor

GE Vice Chairman John Rice has stated that General Electric (GE) will pursue its bid over Alstom (ALSMY) alone. The statement comes after Siemens (SIEGY) announced it would partner up with Mitsubishi (MHVYF) and possibly Hitachi (HTHIY) for a joint bid over the French energy business.

“We don’t think we need a partner in the context of our bid,” says Rice. “We feel really good about the way the process is working, and interactions that we had with the government.”

GE has put in a $17B bid for Alstom.

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