Alstom board approves GE offer but Siemens still in the running

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No binding decision on GE's bid for Alstom's energy division will be made before end of May, giving Siemens time to renew a counter offer.

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General Electric and Alstom, the struggling French conglomerate at the center of a politically charged takeover battle, finally said publicly on Wednesday what the business world has known for a week: G.E. is ready to acquire Alstom’s energy business in a $13.5 billion deal, reports The New York Times.