Siemens makes offer for Alstom power business, French minister says


French Economy Minister Arnaud Montebourg says Siemens (SI +0.2%) is in the process of submitting an offer to buy the power business of Alstom (ALSMY, AOMFF) to counter a bid from GE.

Alstom's board is due to meet today to discuss the two proposals; GE has offered more than $12B for the power division, while SI has expressed interest in swapping the unit for part of its train division and a smaller amount of cash.

Montebourg says he has asked France's stock market regulator to ensure that both offers for Alstom's energy business were treated equally, which could prolong the negotiations over Alstom's future.

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Comments (4)
  • gkarpeck
    , contributor
    Comments (45) | Send Message
     
    Hope GE does not end up overpaying
    29 Apr 2014, 12:23 PM Reply Like
  • Nettligent
    , contributor
    Comments (1346) | Send Message
     
    My long time dream to have a modern train infrastructure. GE will expand energy worldwide and deliver the first bullet trains in North and South America. Perfect time to buy at cheap price for Alstom. GE Alstom is the best for France and America.
    29 Apr 2014, 02:18 PM Reply Like
  • U2A Ventures
    , contributor
    Comments (308) | Send Message
     
    France is being very NIMBY-esq. They are ok with a sale to German SI, but not "American" GE? GE has three locations within France for quite some time, not to mention they have interests around the world with more cash outside the US then within the US. They are as much a European company as they are America, as is SI. GE needs to be careful and make the best decision here, not to overpay, if thats the case let SI take the hit and walk away with your head high, looking for the next deal.
    29 Apr 2014, 02:39 PM Reply Like
  • dawndale
    , contributor
    Comments (34) | Send Message
     
    With the economy and politics the way it is now, it would be good if GE, an American company with a fine track record could acquire the company, but Germany is not the same toward the U.S. as it has been and they are promoting European control. Frankly, I would not like to see GE caught in this game, it could be a nasty one and neither France nor Germany are displaying any great trust in us right now. I hope I am wrong, but I do have qualms about this deal.
    29 Apr 2014, 03:54 PM Reply Like
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