• News
  • Finance

Mitsubishi, Siemens mull joint bid for Alstom

BERLIN (AP) -- Japan's Mitsubishi Heavy Industries and German rival Siemens AG say they are considering making a joint bid for parts of French engineering firm Alstom.

The two companies issued a statement Wednesday saying they will decide by Monday whether to pitch a proposal to Alstom's board.

Mitsubishi CEO Shunishi Miyanaga says his firm can “substantially contribute to a partnership solution for Alstom which will create value for all parties involved, including the country of France.”

Alstom has favored a $17 billion bid from U.S. company General Electric, but the French government has been resistant to the deal and sought rival offers.

Alstom's board is to make a decision by June 23.

User Response
0 UserComments