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Alstom take-over battle takes new twist

By Staffordshire Newsletter  |  Posted: June 12, 2014

Alstom take-over battle takes new twist

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THE battle for control of energy and power engineering firm Alstom - which has a major base in Stafford - has taken a fresh twist.

Japanese engineering giant Mitsubishi is linking up with German firm Siemens to make an offer for the business. They have a deadline of June 16 to make a formal offer to Alstom’s board.

This will be a rival bid to a £10 billion offer for Alstom’s energy business from American firm General Electric - which Alstom board members are due to debate on June 23.

Shunishi Miyagana ,Mitsubishi chief executive, said Siemens had invited the firm to join forces in the bid, and added: “We firmly believe we can contribute to a partnership solution for Alstom.”

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Alstom has its headquarters in France and any bid will have to be approved by the French government, which has the power to intervene in take-overs of strategic companies.

Some business analysts have suggested the Siemens-Mitsubishi bid would effectively mean the break-up of Alstom.

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