General Electric 'in Talks' for Alstom Shares
US engineering group General Electric has reportedly engaged into talks with France's trainmaker Alstom, with the rumors soaring the latter's shares.
The French company, which is a world leader in railway transport, has downpalyed the claims that GE has expressed interest in its assets, suggesting they lead to "speculation and rumors".
A deal with Alstom, if true, would however be GE's "biggest acquisition ever", as Bloomberg reports.
Unidentified sources still suggest that a USD 13 B offer is to be made to the French giant, which is some 25% above its market value. GE could thus gain control of Alstom's TGV trains in Europe.
Its French rival, on the other hand, has a strong industrial presence in nearly 100 countries, but has been severely hit by a drop in orders for power equipment.
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