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General Electric's (GE) chief executive visited France this week, making what some are calling a "last-ditch bid" to acquire the transmission and distribution arm of Areva, a state-owned French company.
Immelt spent some time with two of the closest advisors to French president Nicolas Sarkozy, hoping to convince Sarkozy to ignore political pressure and realize the benefits of GE's $6 billion offer. The French government is rather adamant about keeping the domestic company home, asking a pairing of two French companies (Schneider Electric and Alstom) to rework their initial bid, which was the lowest.
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