Top 10 News for 04/28 - 05/02: Ford's New Visionary; GE Makes Major Bid; Fed Trims Bond-Buying Efforts
1. ON Thursday, Ford Motor (NYSE: F) announced that Alan Mulally has decided to retire from the company July 1 and Mark Fields will be named Ford president and chief executive officer and elected as a member of the company’s board of directors.
2. Following speculation late last week, GE (NYSE: GE) and Alstom announced Wednesday that GE has submitted a binding offer to acquire the Thermal, Renewables (“Power”) and Grid businesses of Alstom consisting of $13.5 billion (€9.9 billion) enterprise value and $3.4 billion (€2.5 billion) of net cash, totaling $16.9 billion (€12.35 billion).