Siemens CEO wants to hold on to parts of rail business

Siemens (SIEGY) wants to hold on to at least some parts of its rail business in any deal with rival Alstom (ALSMY), CEO Joe Kaeser says.

Reports had indicated Siemens was discussing handing over all of its rail business to Alstom and setting up a joint venture in rail signaling, but it seems the German company has at some point offered Alstom half its train-making business plus cash in exchange for its French rival's power turbines division.

Also, Reuters reports Alstom will not give any more information about its power business to Siemens than it has already disclosed to rival bidder GE.

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Comments (7)
  • Non-Plused
    , contributor
    Comments (105) | Send Message
    With the French government taking control of the deal both Siemens and Ge should back away from the deal and initiate competing concerns. Operating whatever they acquire under the guidance of the French government will insure failure.
    22 May 2014, 08:54 AM Reply Like
  • Wise Timmy
    , contributor
    Comments (298) | Send Message
    GE gets paid if the deal doesn't happen. Does Siemens get paid also? Does Alstrom have the cash available to pay off all these potential suitors in the event that no deal happens?
    22 May 2014, 09:39 AM Reply Like
  • duhaus
    , contributor
    Comments (320) | Send Message
    From what I understand no, Siemens would not get a back out fee as they have not even offered a bid. Alstom has already agreed in terms with the offer from GE.
    22 May 2014, 11:38 AM Reply Like
  • BHT
    , contributor
    Comments (36) | Send Message
    Alstrom should just relocate hq to another country.then they would not be a french co and could do what they want.maybe Belize would take them.
    22 May 2014, 09:43 AM Reply Like
  • dorrissan
    , contributor
    Comments (20) | Send Message
    Why would GE want to get in this mess? Avoid France if at all possible.
    22 May 2014, 09:50 AM Reply Like
  • luickie4
    , contributor
    Comment (1) | Send Message
    true power is tempting look at buffet but gov. interference ?
    22 May 2014, 10:16 AM Reply Like
  • 25540633
    , contributor
    Comments (159) | Send Message
    Too much government interference in this "free market" system, would discourage business growth and corporations hard thrived.
    The government knows the drawbacks, but he still be ignorance and wants more power and control regardless.
    22 May 2014, 01:23 PM Reply Like
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