SECURITIES

GE Won’t Raise Bid for Kemper: John Welch, chairman of Fairfield, Conn.-based General Electric Co., said after the annual shareholders meeting that the company has no immediate plans to raise its $55-a-share bid for the Long Grove, Ill.-based mutual fund and asset management firm. Last month, when the $2.35-billion, all-cash bid was announced, the GE Capital subsidiary said it might increase its offer if “it seemed appropriate” after a review of Kemper’s real estate portfolio. But Welch said Kemper has not allowed GE to examine its real estate portfolio, which has been a major drain on Kemper’s profit over several years. Kemper’s management has twice rejected GE’s overtures.