The battle for Alstom SA (ALO) intensified after Siemens AG (SIE) stepped up plans for a bid to counter General Electric Co. (GE) in what would be the biggest tug of war for a French industrial company ever. Siemens is making preparations to bid for Alstom assets, under the condition that it gains the same access to financial information that GE has, according to people familiar with the plans, who asked not to be named as the matter is not public. Munich-based Siemens will decide on a bid after a board meeting set for today, the people said. Alstom, a maker of power transmission gear and the high-speed TGV trains, became the object of competing interests after talks with GE progressed in recent weeks, with the U.S. company aiming to buy its energy assets, which generate more than 70 percent of sales.
via Business News - Yahoo Finance http://ift.tt/1pJqK7g
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