Posted by
Emma Watton on Tuesday, November 10, 2009 1:51:53 AM
TOKYO -- Shares of Toshiba Corp. advanced Tuesday afternoon in Tokyo amid reports that the company is making a bid for the transmission and distribution business of French state-controlled nuclear company Areva SA . Toshiba's stock was up 1.6%. Other bidders include Alstom SA , Schneider Electric SA and General Electric Co. , according to a Dow Jones Newswires report. The report cited an account by French daily La Tribune as saying Toshiba is likely the highest bidder, with an offer topping 5 billion euros ($7.5 billion).
Toshiba Shares Up On Reports Of Bid For Areva Unit