BAE (LSE:BA) Asks GE (NYSE:GE), Eaton (NYSE:ETN), Warburg Pincus for Final Bids

BAE Systems Plc (LSE:BA) has requested General Electric (NYSE:GE), Eaton Corporation (NYSE:ETN) and Warburg Pincus to submit final bids for their Platform Solutions unit this week.

With three bids being offered in the latter part of December, the process has went on longer than expected, as the decision was expected to be made at that time.

Evidently BAE is pushing the three into a bidding war of a sort in hopes of extracting a better price from the winner.

Analysts have expected the platform solutions group to attract a bid from $1.6 billion to $2 billion, but sources say they all came in on the lower end of the range.

BAE reportedly wants to close a deal sometime within the next several weeks.