Alstom Shares Soar Despite Denying GE’s Takeover Bid

Alstom shares surged Thursday despite the French turbine and train maker denying a report that General Electric Company (NYSE:GE) is in talks to buy the company for about $13 billion.

Alstom’s shares initially rose about 17% on the Paris exchange, even after the French builder of trains and power plants issued a statement that it was not aware of any takeover offer.

Earlier planned to sell assets

Aaron Kirchfeld, Matthew Campbell and Jeffrey McCracken of Bloomberg point out Alstom CEO Patrick Kron in November unveiled plans to sell as much as 2 billion euros in assets including a minority stake in its rail unit by the end of 2014.

The Bloomberg report...