Siemens Tosses Grenade Into GE-Alstom Deal
A decade ago, when Alstom was on the brink of collapse, the French government turned away a merger bid by Siemens. Now it’s getting a much warmer reception. On Sunday, Siemens said that it had “submitted a letter to the board of Alstom to signal its willingness to discuss future strategic opportunities.” It declined to offer details. According to the Financial Times, the German industrial powerhouse Siemens is proposing an asset swap in which it would acquire Alstom’s power businesses. In return, it is offering Alstom its high-speed train and locomotive units, as well as a “significant” amount of cash for Alstom shareholders.
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