Siemens has bid to acquire Dresser-Rand for $83 per common share in cash, in a deal with a total transaction value of $7.6 billion.» Read More
NEW YORK— Hundreds of corporations, insurance companies and pension funds are calling on world leaders gathering for a U.N. summit on climate change this week to attack the problem by making it more costly for businesses and ordinary people to pollute.
HOUSTON— German electronics and engineering company Siemens AG has reached a deal to acquire oilfield equipment maker Dresser-Rand for $7.6 billion. Under the deal announced early Monday in Germany, Siemens will pay $83 per common share of Dresser-Rand Group Inc., $3.09 more than the company's closing share price on Friday.
Christophe de Maistre, chairman of Siemens France, says France's labor market is too rigid and costs need to be reduced.
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Peter Sorrentino, Senior Portfolio Manager at Huntington Asset Advisors, explains why Siemens and Mitsubishi Heavy are the winners of a "compromised deal" between General Electric and Alstom.
Gilles Sitbon, senior fund manager at Sycomore Asset Management, says a tie-up between Alstom and GE is "attractive" for both companies.
European shares finished Friday's session slightly higher, with investors contemplating M&A activity and ongoing tensions in Iraq.
GE will be allowed to proceed with its revised offer to buy Alstom's power and grid business as long as it meets certain conditions.
U.S. stock index futures pointed to a flat-to-lower open on Friday, after the news that Obama will send 300 military advisers to Iraq.
Siemens and Mitsubishi Heavy Industries raised their offer for Alstom's energy businesses to compete with a revised bid by General Electric.
Some of the names on the move ahead of the open.
CNBC has learned that the revised proposal would create three energy joint ventures between GE and the French multinational.
Paris is demanding French minority in Alstom's energy assets as the price for approving its bid from General Electric, the FT reports.
GE chief executive will unveil an improved offer for the energy arm of Alstom on Thursday, according to sources.
Christopher Dembik, analyst at Saxo Bank, says both Siemens and Mitsubishi Heavy Industries and General Electric's (GE) bid for Alstom are "very good" but the French firm is likely to favor GE.
General Electric is reportedly considering sweetening its bid for the energy portion of French multinational corporation Alstom.