General Electric fans flames of Invensys bidding war

US conglomerate General Electric is believed to be considering a £3.5bn bid for Invensys in a move that could lead to an international tug-of-war for the British engineer.

Invensys, which makes components for oil refineries, power stations and domestic appliances, has already received a £3.3 billion, 505p a share, offer from France’s Schneider Electric.

Experts say that a rival bid from GE could push the offer price as high as 550p. Emerson Electric, which held talks with Invensys last year, and Siemens have also been mentioned as possible bidders by analysts.