BLOOMBERG – General Electric Co. plans another round of lobbying meetings with French officials on its $17 billion offer for Alstom SA’s energy assets as Siemens AG weighs a bid with Mitsubishi Heavy Industries Ltd., a source familiar with the matter said.
Steve Bolze, chief executive officer of GE’s power and water unit, and John Flannery, the U.S. company’s lead negotiator, are in France for discussions this week and next, said the source, who asked not to be identified because the details are private.
GE’s strategy hasn’t changed since German firm Siemens disclosed talks with Mitsubishi on Wednesday, the source said.
Siemens and Mitsubishi will decide whether to submit a joint proposal to Alstom’s board of directors by Monday. One option being considered is for Mitsubishi to buy Alstom’s steam turbine and grid business and Siemens to get the gas turbine operations, sources familiar with the matter said earlier Wednesday.
GE sees its Alstom offer as more in line with the desires of the French government, which has expressed a preference for a so-called European solution, said the person familiar with GE’s plans. GE has pledged to create 1,000 new local jobs through its acquisition.
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