Alstom Prefers General Electric's Bid To Siemens'

Loading...
Loading...
According to Bloomberg,
General Electric'sGE
deal to acquire the French company Alstom SA is
closer
to being closed, despite rumors that
SiemensSI
is also interested in acquiring their competitor. Matthew Campbell, writer for Bloomberg, reported Alstom's board “so far prefers GE's proposal -- which is a binding offer, compared to Siemens's more informal expression of interest.” French President Francois Hollande is not opposed to General Electric's bid, but French officials have reportedly “urged Alstom SA to consider a rival offer from Germany's Siemens AG,” wrote Matthew Campbell. French officials are worried a deal with General Electric would negatively affect jobs for the country, but General Electric claimed job losses would be minimal due to small overlaps in operations of Alstom's transportation and energy operations. GE is rumored to only be interested in Alstom's energy assets.
Posted In: NewsRumorsM&AMediaMatthew Campbell
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...