Germany's Siemens joins bidding for Alstom
Apr. 29, 2014
PARIS (AP) — French engineering company Alstom has received a purchase offer from Germany's Siemens, putting another party at the bargaining table with General Electric Co.
Siemens AG said in a statement Tuesday that the new bid had been submitted to Alstom SA but did not provide financial details.
French Economy Minister Arnaud Montebourg told lawmakers the government will scrutinize the potential deal and take "the needed time so the interests of the nation are preserved."
Alstom rival Siemens emerged as a potential counter-bidder over the weekend when GE was reportedly concluding a deal.
Alstom makes high-speed trains, power plants and grids, wind turbines and other equipment. France's government is stepping in to ensure national interests and jobs are not hurt by a deal to buy the company.