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September 21, 2017

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Siemens moving toward making offer for Alstom: French minister

PARIS -- Siemens wrote to Alstom on Tuesday seeking information for a possible bid for the French energy and transportation company Alstom, said French Economy Minister Arnaud Montebourg.

The Germany company "wrote this morning to Alstom to request details, deepen its knowledge of Alstom, with the aim evidently of developing, most likely, an offer," Montebourg told lawmakers in parliament.

U.S. group General Electric has made an offer of 12.35 billion euros (US$16.9 billion) for Alstom's energy division.

Energy activities — which include power generation and transmission — account for about 70 percent of Alstom's business but the company is better known as a railway equipment maker that manufactures France's prized TGV high-speed trains

French officials led by Montebourg have encouraged Siemens to outline a counter proposal, but it has yet to make a firm offer.

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