French energy concern Alstom said it is exploring a bid valued at $16.9 billion from General Electric for its power assets after a rival offer from Siemens failed to materialize. The company is giving Siemens until the end of the month to provide a rival bid. At the same time, French President Francois Hollande has said that GE's bid is not acceptable as it stands. GE's proposal also includes a bid for two Indian entities owned by Alstom.
Published in Brief: