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France: GE to go-it-alone in Alstom pursuit despite Siemens joint bid

 |  June 15, 2014

Days after Germany engineering giant Siemens was reported to be planning a bid for France’s Alstom in partnership with Mitsubishi Heavy Industries, reports say US-based General Electric will not do the same as it prepares to acquire the French company alone.

GE is vying for the French turbine company with a $17 billion acquisition. Siemens, however, believes it has a better offer, which involves the acquisition of Alstom’s turbine operations for the transfer of its own railway operations.

According to reports, Siemens, Mitsubishi and the third partner, Hitachi, will decide Monday on whether to make an offer.

Some experts say Siemens’s proposal could win out over General Electric’s with French officials as the deal would facilitate pan-EU railway plans.

Full content: Businessweek

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