GE considers rival bid for Invensys
UK: American business giant General Electric is said to be considering a counter bid for British company Invensys.
According to reports in the Sunday Times, General Electric is preparing a £3.5bn bid to trump last week's offer from French company Schneider Electric.
A bidding war between GE and Schneider Electric could drive the price for Invensys to £3.6bn, say the newspaper's sources.
The Invensys product portfolio includes the well-known air conditioning and refrigeration controls brands Ranco, Eliwell and Eberle.
Invensys revealed the approach from Schneider Electric last week, the French company confirming that it was in the early stages of discussions but described the strategic and financial rationale as 'compelling'.