Siemens AG said its joint bid with Mitsubishi Heavy Industries Ltd. for Alstom SA’s energy operations trumps a competing offer from General Electric Co., as the German manufacturer tries to win the backing of the board and the French state.

The Siemens-Mitsubishi offer values Alstom’s energy assets at 14.2 billion euros ($19.3 billion), compared with GE’s 12.35 billion-euro valuation for those operations, Siemens said in a presentation in Paris today.

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