P.M. BRIEFING : GE, Siemens Bid Again for Plessey
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<i> From Times wire services</i>
LONDON — Britain’s General Electric Co. PLC and West Germany’s Siemens AG today made a fresh offer for Plessey Co. PLC that values the British electronics company at $3.3 billion.
The $4.46-a-share offer followed Wednesday’s news that the joint bidders had reached an agreement with the British government on conditions for a renewed bid.
Plessey shares sank 20 cents a share to $4.36 on London’s Stock Exchange after the news.
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