Alstom board approves GE offer but Siemens still in the running


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.