NEW YORK (TheStreet) -- Shares of Siemens AG (SIEGY) are lower in heavy volume trading as France-based Alstom is prepared to reject their request for more information about its power business, sources told Reuters, reducing the chances of a bid to rival General Electric's (GE - Get Report) $16.9 billion offer.
The source said Alstom would not give Siemens the information because that would force the French power and rail firm to disclose the same data to GE. The source dismissed the request as a "negotiating tactic."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts