Alstom Board Accepts GE Offer Of More Than $12B For Energy Assets: WSJ

Alstom has accepted GE's ofer of more than $12 billion for its energy assets, The Wall Street Journal reported Tuesday.

For GE, a major global manufacturer of gas-fired turbines, it makes sense to make a deal with Alstom, whose strength is in steam turbines. The U.S. group would achieve a greater presence in Europe, expand into power networks and raise its industrial clout as it retreats from its finance business, Reuters reported.