Siemens AGOTCPK - Current
Mon, Nov. 14, 3:03 AM
- According to Reuters, Siemens (OTCPK:SIEGY) is nearing a deal to buy Mentor Graphics (NASDAQ:MENT) for $4.5B-$4.6B in cash.
- The software company has been under pressure since Elliott Management took an 8.1% stake in September, saying its shares "were deeply undervalued."
- Following the move, Mentor reportedly hired Bank of America to explore strategic alternatives, including a sale.
- Update: The two have agreed on a $4.5B all-cash deal ($37.25 per share), representing a 21% premium to Mentor's closing share price on Friday.
- MENT +19% premarket
Mon, Oct. 17, 12:20 PM
- Mentor Graphics (MENT +2.9%) further reportedly hired an advisor on strategic alternatives last week.
- Reuters provides new details beyond just the Bank of America hire, though, claiming Siemens (OTCPK:SIEGY) and Dassault Systèmes (OTCPK:DASTY), along with private equity firms may be contacted during the exploration process.
- Elliot Management increased its stake in Mentor Graphics to 8.1% late in September noting strategic opportunities existed to increase shareholder value and has reportedly pressured for a move in that direction since.
Tue, Aug. 30, 2:13 PM
- Siemens (OTCPK:SIEGY +0.3%) and Gamesa (OTCPK:GCTAF) have rejected a non-binding offer from General Electric (GE +0.3%) for assets belonging to the Adwen wind power joint venture between Gamesa and Areva (OTCPK:ARVCF), Reuters reports.
- Gamesa is merging with Siemens' wind power division to create the world's biggest builder of wind farms in a €10B ($11 billion) deal, but the Adwen venture has been a sticking point, as Siemens does not need the technology from Areva because it has developed its own offshore wind turbines.
- If Areva does not find a buyer before a mid-September deadline set when Siemens and Gamesa announced their merger in June, the most likely outcome would be for Gamesa to exercise its purchase option and take over Areva's 50% stake, according to the report.
Mon, Aug. 22, 12:58 PM
- General Electric (GE +0.3%) plans to submit an offer as soon as this Thursday to buy French wind power company Adwen, Reuters reports, citing French magazine La Lettre de l'Expansion.
- Siemens (OTCPK:SIEGY) has agreed to take over Gamesa's (OTCPK:GCTAF) 50% stake in Adwen as part of its €1B ($1.1B) deal to buy a majority stake in Gamesa, and has made an offer for Areva's (OTCPK:ARVCF) 50% stake in Adwen, but Areva has until mid-September to look for an alternative buyer under the terms of an agreement in connection with the Siemens buyout.
- The report says GE is preparing to submit its bid on Aug. 24 but offers no further details.
Fri, Jun. 17, 4:21 AM
- Looking to bolster its weak position in the onshore market, Siemens (OTCPK:SIEGY) has agreed to combine its wind business with that of Gamesa (OTCPK:GCTAY) to create the biggest builder of wind farms.
- The deal is the latest in a string of mergers in the wind industry. Having weathered years of overcapacity and losses, it is now thriving as demand for carbon-free electricity increases.
- Previously: Bloomberg: Siemens near deal with Gamesa to combine wind power units (Jun. 16 2016)
Tue, Feb. 9, 11:49 AM
- Siemens (OTCPK:SIEGY +0.2%) is close to a deal to combine its wind business with Gamesa (OTCPK:GCTAF +7.6%), which would create world's largest wind turbine maker, Bloomberg reports.
- SIemens is the global leader in wind turbines designed for use offshore, while Gamesa specializes in onshore wind; together, the combined companies would have ~15% of the global wind market, exceeding Vestas Wind's (OTCPK:VWDRY) 10% share and GE’s 11%.
- Siemens also is holding talks about buying Iberdrola’s (OTCPK:IBDRY -0.6%) 20% in Gamesa, according to the report.
Mon, Jan. 25, 1:49 AM
- Siemens (OTCPK:SIEGY) has agreed to buy CD-adapco, a privately held U.S. engineering software firm, for close to $1B in cash, Reuters reports.
- The acquisition comes ahead of Siemens' annual shareholders meeting on Tuesday. Investors there intend to remind CEO Joe Kaeser that following several years of stagnation and restructuring, this year should be about delivering operational improvements and boosting profitability.
Sep. 11, 2015, 8:12 AM
- Halliburton (NYSE:HAL) -1.2% premarket following a NY Post article that says the Justice Department wants it to find a single buyer for ~$7.5B of assets instead of selling them to different suitors in order to gain approval of the company's proposed purchase of Baker Hughes (NYSE:BHI).
- DoJ’s single-buyer mandate leaves HAL with few options other than selling the package of assets to the likes of GE or Siemens (OTCPK:SIEGY), according to the report; it is not known if either company is willing to pay a reasonable price for the assets.
Jul. 29, 2015, 2:19 PM
- Bombardier (OTCQX:BDRBF +7.6%) says it is sticking with a tentative plan for an IPO of its rail business in Q4, and refutes an earlier report of merger talks with Siemens (OTCPK:SIEGY +0.2%) over the unit.
- An IPO or sale of the rail unit would help Bombardier pare debt that ballooned to more than US$9B during development of the CSeries jet, which has been delayed by more than two years and is ~US$2B over budget.
Jul. 29, 2015, 6:15 AM
- Bombardier ([[BDRAF, OTCQX:BDRBF) may combine its train business with Siemens' (OTCPK:SIEGY) rail unit, sources told WSJ, stating that the Canada-based company is simultaneously preparing to float a minority stake of its transportation unit.
- The news comes some months after Siemens downplayed the idea that it could combine its rail assets, which include trains, trams and signaling technology, with those of France's Alstom (OTCPK:ALSMY).
Jun. 29, 2015, 6:57 AM
- Siemens (OTCPK:SIEGY) has secured unconditional EU regulatory approval for its proposed $7.6B bid for Dresser-Rand (NYSE:DRC).
- "After a detailed assessment of the markets involved, the Commission is satisfied that European consumers will not be negatively affected by the merger," European Competition Commissioner Margrethe Vestager said in a statement.
- Siemens is looking to the deal to expand its presence in the United States and the shale exploration boom.
May 19, 2015, 11:57 AM
- Siemens' (OTCPK:SIEGY +0.2%) decision to sell $7.75B in bonds to pay for its acquisition of Dresser-Rand means it still has cash to bid for assets that Halliburton (HAL -2.6%) is preparing to sell, Bloomberg reports.
- Siemens took advantage of investor demand for dollar-denominated assets in yesterday’s debt sale, with a $1.75B tranche of 30-year bonds sold at a yield of 1.4 percentage points more than comparable treasuries; the sale helps the company retain ammunition for further deals.
- Siemens is said to be one of more than half a dozen companies eyeing the $5B-$10B in businesses that HAL is preparing to sell as it seeks regulatory approval for its acquisition of Baker Hughes.
Apr. 23, 2015, 5:49 PM
- At least a half-dozen major industrial companies - including GE, Caterpillar (NYSE:CAT) Siemens (OTCPK:SIEGY), Honeywell (NYSE:HON), Dover (NYSE:DOV), Danaher (NYSE:DHR) and Emerson Electric (NYSE:EMR) - are said to be weighing offers for oilfield services assets worth $5B-$10B that Halliburton (NYSE:HAL) is preparing to sell ahead of its pending merger with Baker Hughes (NYSE:BHI), Bloomberg reports.
- HAL reportedly will send offering materials to those companies, as well as P-E firms and rival oilfield services providers, in the coming weeks; first up likely will be the drill bits unit and another that uses data to track and steer the direction of drills.
- These companies could own an edge over oilfield services companies that analysts have pegged as logical bidders for HAL’s castoffs - such as National Oilwell Varco (NYSE:NOV) and Superior Energy Services (NYSE:SPN) - because HAL might not want to give any more market share to companies that already offer the same services, preferring to sell to new players entering the market.
Mar. 25, 2015, 2:10 PM
- European Union antitrust regulators have suspended their investigation into Siemens' (OTCPK:SIEGY -0.6%) $7.6B bid for Dresser-Rand (DRC -0.1%) while waiting for "important information" from the German company.
- Siemens says the deal is still on schedule and expects to close in the summer of 2015 or earlier, but says it cannot comment further on the EU's request.
- EU regulators have expressed concerns that the merged company would reduce competition in turbo compressors and drivers for trains.
Mar. 11, 2015, 7:46 AM
- EU antitrust regulators have extended their investigation into Siemens' (OTCPK:SIEGY) $7.6B proposed takeover of Dresser-Rand (NYSE:DRC), Reuters reports.
- The European Commission will now decide by July 14 instead of June 30 whether to clear the deal.
- Previously: European Commission to probe Siemens' proposed deal for Dresser-Rand (Feb. 13 2015)
Feb. 13, 2015, 11:42 AM
- The European Commission says it has opened an investigation to assess whether Siemens' (OTCPK:SIEGY +1.5%) proposed $7.6B acquisition of Dresser-Rand (DRC +0.1%) is in line with EU antitrust regulations.
- Siemens is seeking to reinforce its presence in the U.S. shale oil and gas industry through the deal; both companies supply turbo compressors as well as the engines which drive the compressors.
- The EC now has 90 working days, until June 19, to complete its probe.