Following up on yesterday's "Transmission: "France Said to Pick Alstom-Schneider for Areva Power-Grid Unit " ($6 Billion Bid)".
From Dow Jones via easyBourse:
General Electric Co. (GE) expressed disappointment Monday that its bid for Areva SA's (ARVCY, CEI.FR) power transmission and distribution unit was unsuccessful, although the conglomerate vowed to grow in the sector regardless.HT: DealBook who add:
"The GE offer was financially competitive and would have preserved the manufacturing capability, domain expertise, and business leadership that Areva T&D has built in France," GE spokesman Jim Healy said in a statement.
The board of French state-controlled nuclear company Areva announced late Monday that it will open exclusive negotiations with the French consortium of Alstom SA (ALO.FR) and Schneider Electric SA (SU.FR) regarding the power transmission and distribution unit....MORE
...The decision to pick a 4.09 billion euro ($6.15 billion) offer from Alstom and Schneider over rival offers from Toshiba and General Electric has left the losers fuming, according to The Financial Times.
The newspaper, citing people close to the disappointed bidders, said they were “very, very angry,” with Toshiba mulling a legal challenge to the deal.
“They told us the bid would be judged on four criteria but it turns out there was a hidden one,” a person close to one of the bidders told The Financial Times. “You have to be French.”...