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Two high-speed trains, the German ICE 3, left, and a French TGV arrive side-by-side into Paris’s Gare de l’Est railway station.
Two high-speed trains, the German ICE 3, left, and a French TGV arrive side-by-side into Paris’s Gare de l’Est railway station.
(CHARLES PLATIAU/Reuters)

GE’s raised Alstom bid likely to derail Siemens’ hopes

Siemens’ attempt to snatch Alstom’s power divisions from General Electric increasingly looks like a lost cause. The U.S. conglomerate has sweetened its €11.4-billion ($16.8-billion) offer for Alstom’s turbines and grid units. GE promises to create new jobs in France and is mulling an asset swap to strengthen the French group’s railway division.