Take context from the input text and decide on the accurate relationship between 'General Electric' and 'conglomerate' from the options provided.
Options: owned by, distributed by, industry, legal form

BRUSSELS (Reuters) - U.S. conglomerate General Electric (GE.N) has offered concessions in an attempt to counter EU regulatory concerns about its 12.4-billion-euro (9 billion pound) bid for French peer Alstom's power unit, its biggest ever acquisition.
industry