Reports: Siemens offer to Alstom - energy for trains

|About: Alstom ADR (ALSMY)|By:, SA News Editor

Siemens (SI) has reportedly offered to swap its train business with Alstom's (ALSMY) energy operations and make an additional cash payment.

Siemens is also willing to meet or even top an offer from GE (GE) for Alstom's energy assets that values the French group at $13B, and it has made guarantees about jobs, management positions and locations.

Siemens would consider a straight purchase of Alstom's energy business as well; either way, the German company has the backing of the French government, although GE's bid might encounter less EU regulatory opposition.

GE CEO Jeff Immelt is set to meet French President Francois Hollande and Economy Minister Arnaud Montebourg today to discuss Alstom. Immelt was due to meet Montebourg yesterday, but the latter postponed the talks.