Siemens going to bid for Alstom power business
Los Azufres geothermal power plant, Mexico (source: Alstom)
Francisco Rojas
2 Jun 2014
The formal offer of $13.5bn was expect to be submitted by June 16th but the time period has been extended until the 23rd.
As stated in the news source:
Siemens is planning to submit its bid for French company Alstom by June 16, a company official said yesterday.
The German company is expected to make a play for the majority of Alstom’s power assets, giving up its train business in return.
Siemens has been preparing a bid since GE first lodged its formal $13.5bn offer for Alstom last month. Consideration of that bid has been extended until June 23.
Parts of the French government are publicly in favour of the European suitor. It holds a veto over any deal.
Source: Renews Website
