Siemens offer for Alstom yet to be set out clearly
German industrial giant Siemens has yet to finalize the terms of its offer for French power and rail group Alstom, according to the Journal du Dimanche. The French item noted a comment from a source familiar with the developments, who indicated that no firm offer is ready yet. The newspaper also reported that Siemens is only a fortnight into reviewing Alstom figures, a process that will require four weeks in total.
The item also noted a comment from a source in German,y who suggested that Siemens, to be successful, would need to offer a major cash component to the French entity. The paper noted, without sourcing the view, that a Franco-German alliance of this type seems doomed.
The discussion about Siemens allying with Alstom comes in light of Fairfield, Connecticut General Electric’s EUR 12.35bn offer for the French entity. The JDD also indicated without specific sourcing that the German company's board was due to meet today (Sunday 25 May).
Source Journal du Dimanche