Siemens is considering launching a bid for Alstom. The proposed deal would see the German manufacturing giant acquire the French company’s power business and “create two European champions” in energy generation and rail, overcoming rival General Electric (GE).
Sources have said Siemens is collecting information on Alstom before placing the bid, which would see it take over its energy arm – including the renewables sector – in exchange for part of its rail business and around €10 billion (£8 billion) cash.
GE, which was also interested in the French company, would have offered €13 billion (£10.5 billion). Both GE and Siemens have appeared in front of the French government with their respective proposals.
Siemens told Alstom’s chief executive Patrick Kron that it aimed to create “two European champions”, one in the energy sector ruled by Siemens and one in rail under Alstom. It promised not to cut jobs in France for at least three years and it said it would make an official proposal in mid June.
On the other hand, GE has said that by combining, the two companies would be stronger in many sectors, especially in emerging economies and that with GE’s involvement, France will have a greater influence in the global energy market.
France’s industry minister Arnaud Montebourg said the government needed “the time to make a serious examination of the two proposals” and consider implications on jobs, research and investment.
“Given the strategic issues for French industry and the economy, the government will not accept any hasty decisions”, he added.
Siemens recently bought energy gas turbine and compressor business from Rolls Royce for around £785m. The German firm announced in a March a £310m investment in an offshore wind facility in Hull.
Photo: surber via flickr
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years