Siemens, Mitsubishi update Alstom bid

Confirming earlier reports, Siemens (SIEGY) and Mitsubishi Heavy Industries (MHVYF) have improved their offer for Alstom's (ALSMY) energy business. The updated bid follows General Electric's (GE) new offer made to the French government yesterday.

Siemens and Mitsubishi will now pay €8.2B ($11.2B) in cash, in place of their last bid of €7B. This will value Alstom at €14.6B, which is well above GE's €12.4B. Siemens has also expressed it is willing from the start to enter a mobility management joint venture with Alstom.

Increasing its stake, Mitsubishi is now offering a 40% purchase in Alstom's steam, grid and hydro business, raising its cash payment €3.9B from €3.1. Previously, Mitsubishi planned on creating three joint ventures with Alstom.

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Comments (4)
  • DUP
    , contributor
    Comments (308) | Send Message
    Where's ABB in all this?
    20 Jun 2014, 05:19 AM Reply Like
  • Zoomiesa
    , contributor
    Comments (125) | Send Message
    Let them have it. At this point if GE doesn't walk away, I'll walk away from GE.
    20 Jun 2014, 10:26 AM Reply Like
  • guest1971
    , contributor
    Comment (1) | Send Message
    The employees want GE!
    20 Jun 2014, 11:43 AM Reply Like
  • redgnat
    , contributor
    Comment (1) | Send Message
    We need to walk away to continue down this path is pure ego.
    20 Jun 2014, 11:43 AM Reply Like
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