GE agrees on tentative value for train signal unit with Alstom - WSJ

June 17 Tue Jun 17, 2014 3:26pm EDT

June 17 (Reuters) - General Electric Co and Alstom SA have agreed on a tentative value for GE's train signaling unit, the Wall Street Journal reported, citing people familiar with the matter.

The move comes as GE tries to counter a joint proposal by Siemens and Mitsubishi Heavy Industries for Alstom's energy business.

The two companies have already held discussions, the Journal reported, citing the people.

However, the people declined to elaborate on the potential value, saying only that GE's business was slightly smaller than Alstom's but more profitable, the paper reported. (r.reuters.com/hex22w)

The French government said last month that GE's offer to take over Alstom's power and grid business was not acceptable as it stood and had suggested a deal that would also combine the two companies' rail businesses. (Reporting By Abinaya Vijayaraghavan in Bangalore)

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