Mitsubishi Heavy Industries (MHI) and Siemens AG announced that they have joined forces in evaluating a potential proposal for certain assets of the French engineering giant, Alstom.
MHI and Siemens said in a joint statement today that they would decide on the submission of a proposal to Alstom's Board of Directors by 16 June.
"MHI has been invited by Siemens to join forces and we firmly believe that we can substantially contribute to a partnership solution for Alstom which will create value for all parties involved, including the country of France," commented Shunichi Miyanaga, president and CEO of Mitsubishi Heavy Industries.
On 30 April, Alstom confirmed it had received a binding offer from GE to acquire its energy activities for €12.35 billion ($17.1 bn), and announced it had set up a committee of independent directors to review the proposed transaction. On 22 May, at the request of the French government, GE agreed, in consultation with Alstom, to extend the deadline for consideration of its proposal by the Alstom board until June 23.
"We welcome GE's initiative to extend the review period of the offer by its board and allow constructive dialogue with French state to continue," Alstom said on Twitter.
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