Reuters: Siemens, Mitsubishi finalize Alstom offer

|About: Siemens AG (SIEGY)|By:, SA News Editor

Siemens (SIEGY) and Mitsubishi (MHVYF) reportedly are putting the finishing touches on a joint offer for Alstom's (ALSMY) turbine businesses that includes ~€9B cash.

GE has offered €12.35B ($16.9B) for all of Alstom's energy assets, including turbines, renewables and grid operations, but a source tells Reuters "the offer can't be compared with that of GE as they're so different in nature."

Under the complex proposal, Alstom would have a future in the energy business and be at the center of a European rail champion - both potentially attractive prospects for the French government - but would turn Alstom into an unwieldy holding company with stakes in disparate businesses, which may make it difficult to convince Paris that its deal is a jobs creator.