Siemens, Mitsubishi hike Alstom offer

Comment on this story


SiemensMitsubishi1

Reuters.

President and chief executive of Siemens Joe Kaeser (R) and Mitsubishi Heavy Industries chief executive Shunichi Miyanaga attend a news conference after a meeting with French government in Paris June 17, 2014. Germany's Siemens and Japan's Mitsubishi Heavy Industries presented a joint offer to France's Alstom, challenging a bid by General Electric.

Berlin - Siemens and Mitsubishi upped their offer for France's power-to-rail group Alstom on Friday, as they battled with General Electric to win the government's backing to buy the French conglomerate.

The new offer - announced a day after GE sweetened its rival bid - increases the valuation of Alstom's energy division by 400,000 euros to 14.6 billion euros and ups the cash contribution by 1.2 billion euros to 8.2 billion euros, the groups said in a statement. - Sapa-AFP


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks