General Electric Prepares to Stand Up to Siemens in Alstom Battle

General Electric is preparing to bolster its $17 billion offer for Alstom, according to a report by the Financial Times. This, after Siemens and Mitsubishi Heavy Industries launched a $9.5 billion joint bid for Alstom's energy business on Monday. The two companies have been competing for the support of the French government, which is seeking to preserve French jobs and a national industrial icon. Now, General Electric, which has vowed to create 1,000 new jobs in France, says it will reinforce its commitments to French jobs by offering to increase investments in the company if the deal is approved.