GE, Siemens face-off today in France over Alstom


General Electric (GE +0.3%) CEO Jeff Immelt will have to convince the French parliament today of his €12B ($17B) bid for Alstom (ALSMY -0.5%). Immelt faces pressure from Siemens France chairman Christophe de Maistre, who will have his own shot at an offer for the electric and rail transport giant.

Previously, GE had extended its bid to June 23, although Siemens is already being seen making a rival offer. Reuters suspects that Siemens was readying a formal bid under which it would "transfer its rail activities and less than 7 billion euros in cash to its French rival in exchange for its power assets." Although it is still likely that Siemens will hold onto some of its rail business, as reported last week.

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Comments (8)
  • limed
    , contributor
    Comments (74) | Send Message
     
    I just finished watching a Memorial Day special on the invasion on D-Day. I also saw 12 retired Army Soldiers that scaled the cliffs in the face of German machine guns and grenades to save France. Real HEROES all in their nineties! The French president needs to remember this when dealing with USA and GERMANY. Thousands of Americans made the ultimate sacrifice to save France from Hitler !!!!!!!!!!
    27 May 2014, 10:48 AM Reply Like
  • User 6830851
    , contributor
    Comments (268) | Send Message
     
    Really?
    27 May 2014, 10:56 AM Reply Like
  • doc47
    , contributor
    Comments (1717) | Send Message
     
    Everything seems to points to the deal getting worse from a GE shareholder perspective. If GE ends up with what Siemens doesn't want and/or what the French government wants to give them, the pieces they get better fit and price better be right.
    27 May 2014, 11:09 AM Reply Like
  • Me4buick
    , contributor
    Comments (22) | Send Message
     
    Yes really...
    27 May 2014, 11:34 AM Reply Like
  • Muxan
    , contributor
    Comments (5) | Send Message
     
    It is time for GE to walk away.
    27 May 2014, 11:44 AM Reply Like
  • Jud vonruhl
    , contributor
    Comments (17) | Send Message
     
    Do the French really owe the U.S. preferential business treatment for our military efforts there 60 years ago.
    In many places in France, the heroism of American Forces is still celebrated and the French seemingly as near as I can tell do appreciate what was done on their behalf. But we weren't there because we loved France or England, but because of a real or perceived threat to our own interests, both there and here, if we didn't help in the effort to stop the German expansionism.
    Business is business even between relatives and friends. The French have to do what they believe will do them the most good, no matter what it looks like to us. It may be wise for G.E. to rethink their prop0osal.
    27 May 2014, 12:07 PM Reply Like
  • Veritas1010
    , contributor
    Comments (3180) | Send Message
     
    We understand I believe your economic arguments. However, the problem with the French government is not that they say 'non' but it is HOW they say it. With an arrogant self-servicing egoism that just makes them look so foolish internationally.

     

    Someone once commented and I paraphrase from memory that 'France would be fine except for the French'. On a personal level, I love French, food, wine, and art infused culture. However, as former Justice Felix Frankfurter commented in a supreme court decision in the 1940's - sometimes stereotypes are found in truth.

     

    Maybe the French need a little bit of humility and pragmatic reflection.
    27 May 2014, 07:00 PM Reply Like
  • Disenchanted
    , contributor
    Comments (195) | Send Message
     
    "Thousands of Americans made the ultimate sacrifices to save France....."
    Charles de Gaulle, French President opposed America all the time. Thousands of Americans died to save China. China fights America over world leadership. Philippine told Americans to leave its country. Koreans demonstrated against America all the time. Iraq give its oil businesses to countries other America, and told the G.I. to leave. There's no love lost between Afghanistan and America. We lost our young men and women for nothing. We spent trillions for nothing. Even closer to home, many Canadians do not like Americans. How about Latin America?
    28 May 2014, 06:37 AM Reply Like
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