Siemens faces decision making on Alstom

Germany, Munich: Next Sunday, Siemens will decide on the way forward regarding the acquisition of the Alstom energy division.

Siemens will decide whether it can actually bring a counter-offer to the U.S. group General Electric (GE) or withdraw from the bidding war.

GE currently offers € 12.35 billion ($ 16.8 billion) for the Alstom division and also wants to create 1000 new jobs in France. Siemens CEO, Joe Kaeser, will present details of his concept on Sunday to the Supervisory Board at an extraordinary board meeting, Focus reports. The company was told to submit the offer not later than the 16th but felt at a disadvantage. Siemens is currently reviewing the offer for Alstom.

Source: Focus

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