Toshiba Corp will offer to purchase Alstom's power grid business for "several hundred billion yen" if General Electric Co completes its planned purchase of Alstom's energy business, the Nikkei newspaper reported. GE has offered to buy Alstom's energy business, which makes power generation systems along with power grids, for about $16.9 billion.The French company said last week it was reviewing GE's offer but has also given Germany's Siemens AG until the end of May to make a rival bid.A spokesman for GE failed to comment on the Nikkei story.
Siemens AG (Siemens) is a globally operating technology company with core activities in the fields of energy, healthcare, industry and infrastructure. Shares of SI traded higher by 2.07% or $2.7/share to $133.38. In the past year, the shares have traded as low as $99.07 and as high as $139.28. On average, 438890 shares of SI exchange hands on a given day and today's volume is recorded at 565759.
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