Siemens-Mitsubishi improves Alstom offer, French unions say

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.

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Comments (9)
  • ReynoldsCC
    , contributor
    Comments (130) | Send Message
    Let them have this POS.
    19 Jun 2014, 03:17 PM Reply Like
  • Realtor_k
    , contributor
    Comments (220) | Send Message
    @Rey --


    Yup -- I agree. Why is GE so "hard-up" on Alstom?


    Alstom is NOT worth it -- check Alstom's P/L, long-term debts and Accounts Receivables.


    Alstom is playing GE and playing hard-to-get.


    GE should find another target. Immelt is too stupid to look for another target.


    Immelt should walk away from this bidding war. GE is being played.
    20 Jun 2014, 02:28 AM Reply Like
  • Thinking DNA
    , contributor
    Comments (56) | Send Message
    ReynoldsCC: I agree with you; it is time to re-group and walk away. I hope ego's do not get in the way...
    19 Jun 2014, 03:24 PM Reply Like
  • Felix Lumpe
    , contributor
    Comments (768) | Send Message
    This situation is beginning to make the French Govt look pretty smart as the two competitors slug it out. GE's sweetened offer will follow shortly, I'm sure.
    19 Jun 2014, 03:39 PM Reply Like
  • bosstweed1
    , contributor
    Comments (18) | Send Message
    I think GE shareholders will be fine no matter which way it goes. My $.02.
    19 Jun 2014, 03:52 PM Reply Like
  • Maerzie
    , contributor
    Comments (32) | Send Message
    What's wrong with buying ALSMY?? Then you win, regardless of who has the best bid! That's what I did today, getting tired of all the dickering! I have always wanted shares in Siemens anyway, in spite of my GE, but their stock is far too expensive! I got my initial ATT shares that way! I had bought a baby Bell, SBC, which was soon bought up by ATT, and it's a nice, dividend-paying Blue Chip!
    19 Jun 2014, 03:56 PM Reply Like
  • RoberHD05
    , contributor
    Comments (103) | Send Message
    Good idea Maerzie, just picked up a couple hundred shares at $3.78 and their ten cent divvie is coming up in July. Or did they cancel that? Either way I should end up with a few more GE shares or some brand new Siemens shares.
    20 Jun 2014, 10:54 AM Reply Like
  • ruthron
    , contributor
    Comments (9) | Send Message
    Please, please - Mr. Immelt - stand pat. Don't offer any more of the shareholders money in order to save face on this ridiculous bidding war. With French Politicians involved - only they will win and GE shareholders will suffer the consequences.
    19 Jun 2014, 04:05 PM Reply Like
  • John Bevis
    , contributor
    Comment (1) | Send Message
    If the French Government can be this intrusive, how could GE possibly make smart business decisions regarding any resulting business venture?
    19 Jun 2014, 08:28 PM Reply Like
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