French giant Alstom shares leap on rumored GE multibillion-dollar bid
April 25, 2014, 12:00 am TWN
PARIS--Engineering giant Alstom, a top name in French industry, was caught in a swirl of speculation on Thursday that U.S. group General Electric is about to make a US$13 billion bid, and its shares leapt.
Alstom, which builds high-speed trains and power stations, said it "is not informed of any potential public tender" to buy its shares.
If a takeover does materialize, it would amount to the biggest ever by General Electric, which makes rail locomotives and aero engines.
Alstom stock jumped at the opening of trading by about 17.0 percent, to settle back during morning trading for a gain of 11.63 percent to 27.17 euros.