Japan-German group to bid $10b for Alstom assets
Friday, 13 June 2014
TOKYO, June 12 (AFP): Japan's Mitsubishi Heavy Industries and Germany's Siemens are set to bid nearly $10 billion for some of French "national jewel" Alstom's energy assets, a report said Thursday, potentially blocking a $17 billion offer from General Electric.
Japan's leading Nikkei business daily said electronics and machinery maker Hitachi might also join the one-trillion-yen bid, which would be squarely aimed at Alstom's gas and steam turbine business, rather than the wider energy group eyed by US giant GE.
The report, which did not cite sources, came after Siemens and Mitsubishi announced Wednesday that they had "joined forces in evaluating a potential proposal for certain assets" of the French multinational.
They did not elaborate, saying a decision on submitting an offer would be made by June 16.