Tuesday, April 29, 2014

Siemens says to make Alstom offer if it can see its books

A combination of two file photographs shows the logos of Siemens AG company in Berlin and of French power and transport engineering company Alstom in Reichshoffen By Natalie Huet and Maria Sheahan PARIS/FRANKFURT (Reuters) - Germany's Siemens said on Tuesday it would make an offer to French engineering group Alstom if it is given four weeks to examine its books and draw up a detailed plan to rival a move by General Electric . The interest in Alstom from U.S. competitor GE has triggered a fierce national debate about the fate of power turbine and train manufacturing in France - both integral to the nation's engineering pedigree. Siemens said it had sent a letter to Alstom in the afternoon after its managing and supervisory boards had decided to make an offer. "The prerequisite for this offer is that Alstom agrees to give Siemens access to the company's data room and permission to interview the management during a period of four weeks, to enable Siemens to carry out a suitable due diligence," it said.








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