Tuesday, 29 April 2014

Siemens may get extra time to formulate Alstom plan: sources

By Gregory Blachier and Sophie Sassard PARIS/LONDON (Reuters) - Alstom is likely to give Germany's Siemens two to three weeks to draw up a detailed plan to buy the French engineering group's power business, sources close to the talks said on Tuesday. Cash-strapped Alstom is due to hold a board meeting on Tuesday to study the Siemens plan, which includes cash plus the transfer to Alstom of some of the German group's train-making assets. Sources say Alstom already has a $13 billion cash offer from General Electric for its power business, which generates 70 percent of its sales. France's Socialist government has declared that it must have a say in the outcome, insisting that thousands of jobs are at stake and that state-owned utility EDF and the national railways are major clients of Alstom. via Health News Headlines - Yahoo News Read More Here..

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