In April 2014, it was announced that GE was in talks to acquire the global power division of French engineering group Alstom for a figure of around $13 billion. A rival joint bid was submitted in June 2014 by Siemens and Mitsubishi Heavy Industries (MHI) with Siemens seeking to acquire Alstom's gas turbine business for €3.9 billion, and MHI proposing a joint venture in steam turbines, plus a €3.1 billion cash investment. In June 2014 a formal offer From GE worth $17 billion was agreed by the Alstom board. Part of the transaction involved the French government taking a 20% stake in Alstom to help secure France's energy and transport interests, and French jobs. A rival offer from Siemens-Mitsubishi Heavy Industries was rejected. The acquisition was expected to be completed in 2015. COUNT 5
QSN1 When did GE announce it was in talks to acquire the French engineering group Alstom? ANS1 April 2014 QSN2 What was the final acquisition price paid by GE for Alstom? ANS2 $17 billion QSN3 How big was the stake in Alstom taken by the French government as part of the acquisition deal? ANS3 20% QSN4 When was GE's acquisition of Alstom agreed to by Alstom's board? ANS4 June 2014 QSN5 From which company did the Alstom board reject a rival acquisition proposal? ANS5 Siemens-Mitsubishi Heavy Industries