Alstom board thinks Siemens/MHI proposal is too complex compared to GE's bid
Alstom’s board’s initial thoughts on the bid from Siemens and Mitsubishi Heavy Industries (MHI) are that the proposal is too complex compared with General Electric’s (GE) bid, Financial Times reported.
The newspaper cited people close to Alstom for the claim, which appeared in a longer item about attempts by Siemens and MHI to persuade the French government and Alstom’s board that their bid for the French engineering company's energy assets is a better offer than the EUR 12.35bn bid from GE.
Alstom’s board also has concerns about breaking the company up, the article added.
Siemens CEO, Joe Kaeser and his counterpart at Mitsubishi, Shunichi Miyanaga said that their offer for Alstom's energy assets represents a valuation of EUR 14.2bn, the item noted. Kaeser and Miyanaga held meetings with the French President Francois Hollande and French unions yesterday morning, 17 June, the article reported.
The two CEOs made a commitment to provide 1,000 apprenticeships to French workers yesterday, having already committed to creating an additional 1,000 jobs on Monday, according to the report.
The French government indicated yesterday that both sets of suitors need to improve their offers, the article said, citing a government spokesperson.
Source Financial Times