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GE bids for French foe

Officials: Deal would have no local impact

Workers gather in front of the Alstom company headquarters, the leading global maker of high-speed trains, power plants and grids, in Levallois-Perret, outside Paris, on Wednesday. French engineering firm Alstom SA said Wednesday it was ready to accept General Electric Co.'s bid to buy its energy business, but bent to its government's order to put any deal on hold for review.
Photographer: The Associated Press
Workers gather in front of the Alstom company headquarters, the leading global maker of high-speed trains, power plants and grids, in Levallois-Perret, outside Paris, on Wednesday. French engineering firm Alstom SA said Wednesday it was ready to accept General Electric Co.'s bid to buy its energy business, but bent to its government's order to put any deal on hold for review.
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An offer by General Electric to acquire French conglomerate Alstom’s nearly $17 billion power and grid businesses would not affect GE’s operations in Schenectady, a company spokeswoman said. Nevertheless, speculation swirled Wednesday that it would, after GE Chairman and CEO Jeff Immelt said France would be the center of its European power business, with headquarters and “Centers of Excellence” for its steam turbine, hydro, offshore wind and grid businesses. Schenectady is currently home to much ...

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