GE Beats Siemens, Mitsubishi in Battle for Alstom, Establishes European Grid Presence

The battle of titans for a choice piece of the European power equipment markets came to an end this week and General Electric CEO Jeff Immelt emerged holding the prize. For the staggering price of $16.9 billion (€12.35 billion) — the largest sum GE has ever paid for an acquisition — Immelt bought GE a major stake in the European electric power generation and grid equipment markets, a play that had long eluded GE.

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