Siemens e Mitsubishi relaunch and simplify their offer for Alstom, disputed by the American General Electric. The German giant and its Japanese ally raised their valuation of the French conglomerate's energy assets by 400 million euros to 14,6 billion. "The cash offer - reports a note - was increased by 1,2 billion to 8,2 billion and Siemens said it was available to joint ventures in signaling activities".
On the other side of the fence remains the 12,35 billion offer made by GE not for Alstom as a whole, but only for the energy division, which produces 70% of the group's total turnover. Moreover, yesterday General Electric raised the bar by presenting an improved offer with concessions to the French government. GE has proposed to create three equal joint ventures (steam turbines, networks and renewables) with the French group Alstom and sell its signaling business.
Meanwhile, today atElisha there will be a rapid turnover of managers. In the afternoon, President François Hollande will first receive Ge Jeffrey Immelt's number one, together with those responsible for France, then the head of Siemens Joe Kaeser and the representative of Mitsubishi Heavy Industries, after the return home of the managing director Shunichi Miyanaga.
A large government delegation will take part in the meetings with Hollande: in addition to Prime Minister Manuel Valls, the ministers of the Economy Arnaud Montebourg, of Energy Ségolène Royal and the director of the agency for state holdings David Azema. The quartet was already received this morning by the president to analyze the situation.
The final decision of the government and the industrial parties is expected to come shortly, since GE's offer officially expires on Monday. Sources from the Ministry of the Economy quoted by the France Presse agency specify that the French state could reserve itself in any case a capital stake to maintain a grip on Alstom's nuclear business.
Siemens, on the other hand, is aiming for gas turbines, for which it is willing to shell out 4,3 billion euros. Finally, Mistrubishi is ready to take on 40% of a holding in which to merge the steam turbines (those used in atomic power plants), the hydraulic activities and the Alstom networks.
As far as railway activities are concerned, the two allies would like to postpone decisions until after the energy chapter has been settled.
