Siemens-Mitsubishi improves Alstom offer, French unions say

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

Siemens (SIEGY) and Mitsubishi Heavy Industries (MHVYF) have revised their alliance proposal to Alstom (ALSMY), French trade unions say, after General Electric (GE -0.1%) revamped its own rival offer.

The chief of the metallurgy arm of CGT trade union tells Reuters that the Siemens-Mitsubishi group was now offering to improve its bid by a further €800M to take higher stakes in two parts of Alstom's business.

The offer would leave Siemens-MHI with a 40% stake in Alstom's steam, hydro and renewables business.