Siemens Mulls Joint Alstom Energy Bid With Mitsubishi

Posted on June 11, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Siemens AG (SIE) is in talks with Mitsubishi Heavy Industries Ltd. (7011) about a joint bid to buy Alstom SA’s energy business and counter a $17 billion offer by General Electric Co. (GE:US)

Japan’s Mitsubishi Heavy and Munich-based Siemens will decide whether to submit a joint proposal to Alstom’s board of directors by June 16, the two companies said in a statement today, confirming an earlier report by Bloomberg News. The companies didn’t give further details.