Alstom: GE made a firm offer to € 12.35 billion
The U.S. giant proposes € 12.35 billion to Alstom energy business. The Board of Directors of Alstom welcomed "positively" the offer, but reserves the right to respond to other unsolicited proposals.
The figure fell. Approximately € 12.35 billion were proposed by General Electric (GE), following the letter of appointment of Jeffrey Immelt François Hollande . The battle between the U.S. group and Siemens, the acquisition of Alstom's energy sector underwent, has entered a new phase with the firm offer from U.S. group revealed Wednesday morning. Tenders received positively by the Board of Alstom and will be "a thorough review" by the end of May In this context, a committee of independent directors, led by Jean-Martin Folz, consider the U.S. proposal "taking into account the interests of all stakeholders, including those of the French state." A recovery Wednesday morning by GE assertion judge offers GE "good" for Alstom and France.
In a statement, General Electric specifies the structure of its offer. For Thermal Power activities, Renewable and Power Grid, the American firm has proposed $ 13.5 billion, or about € 9.9 billion in enterprise value and $ 3.4 billion, or about 2 5 billion euros in net cash. According to the calculations of GE, this operation would cost synergies of over $ 1.2 billion at the end of 5 years.
Alstom close any door
The other contender for the acquisition of Alstom's energy industry, German Siemens, is still in the race that the American option has yet a significant advance. And this despite the support of the French government to Siemens . Alstom has said the German group would be "equitable access to information" for a possible firm offer can be made.
In its statement, Alstom also states that it reserves the right answer for the acquisition of "all or part" of its energy industry "unsolicited offers". Sign that this battle may be far from over and that the French group wants to close any doors.