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Jul 17, 2014

Siemens preparing offer for Dresser-Rand – magazine

FRANKFURT, July 17 (Reuters) – German engineering group
Siemens has been preparing an offer to acquire
U.S.-based compressor and turbine maker Dresser-Rand,
German magazine Manager Magazin reported on Thursday, citing
sources close to Siemens.

Siemens has been expanding in the United States and
announced plans to move its energy headquarter there to tap
booming demand for oil and gas equipment, as the U.S. power
industry switches to natural gas from coal.

Jun 23, 2014

Alstom loss is PR win for new Siemens chief

MUNICH/FRANKFURT, June 23 (Reuters) – Within weeks of taking
the helm at Siemens in 2007, Peter Loescher splashed
out $7 billion for U.S. diagnostics firm Dade Behring. It was
the first of several acquisitions that went bad and ultimately
cost the Austrian his job.

Joe Kaeser replaced Loescher less than a year ago, promising
a more disciplined approach. And in his first major test as CEO
– the politically-charged battle for France’s Alstom – he has
been true to his word.

Jun 20, 2014

Siemens-Mitsubishi raises Alstom offer as end-game nears

PARIS/FRANKFURT (Reuters) – Siemens and Mitsubishi Heavy Industries (MHI) raised their offer for Alstom’s energy arm on Friday, challenging a revamped bid by General Electric as the deadline for a decision nears.

President Francois Hollande’s government, which has said it will veto any deal that does not protect French jobs and control over strategic activities, has yet to pronounce on either deal ahead of a decisive Alstom board meeting set for Monday at the latest.

May 12, 2014

BSkyB in talks to unite Murdoch’s pay-TV businesses in Europe

LONDON/FRANKFURT (Reuters) – Britain’s largest pay-TV company BSkyB is in talks to buy Sky Deutschland and Sky Italia, a 10 billion euro deal that would realize Rupert Murdoch’s long-held ambition to combine his European TV interests in a single business.

The potential tie-up would create a broadcaster with 20 million subscribers and more clout to deal with growing competition from rivals such as BT in sport as well as online groups like Netflix in movies and blockbuster TV shows.

Apr 30, 2014

Alstom accepts 10 billion euro GE bid for its energy unit

PARIS/FRANKFURT (Reuters) – The board of Alstom (ALSO.PA: Quote, Profile, Research) accepted General Electric’s (GE.N: Quote, Profile, Research) 10 billion euro (8.2 billion pounds) bid for its energy unit on Tuesday, several sources familiar with the situation told Reuters. Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG (SIEGn.DE: Quote, Profile, Research), which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer.

Alstom is expected to make a statement about the two offers early on Wednesday, before its shares, suspended since late last week, resume trading.

Apr 29, 2014

Siemens says to make Alstom offer if it can see its books

PARIS/FRANKFURT (Reuters) – Germany’s Siemens (SIEGn.DE: Quote, Profile, Research, Stock Buzz) said on Tuesday it would make an offer to French engineering group Alstom (ALSO.PA: Quote, Profile, Research, Stock Buzz) if it is given four weeks to examine its books and draw up a detailed plan to rival a move by General Electric (GE.N: Quote, Profile, Research, Stock Buzz).

The interest in Alstom from U.S. competitor GE has triggered a fierce national debate about the fate of power turbine and train manufacturing in France – both integral to the nation’s engineering pedigree.

Apr 29, 2014

Infineon sees revenue and margin at top end of forecast range

FRANKFURT, April 29 (Reuters) – German chipmaker Infineon
toned up its outlook for the year on Tuesday as it
published consensus-busting quarterly financial results, buoyed
by robust demand from automotive and industrial customers and
sending its shares higher.

Infineon, whose chips activate airbags, enable cruise
control and cut vehicle emissions, is investing to answer
growing demand from automotive and industrial customers such as
engineering group Siemens, benefiting from an
improving global economy and a recovery of European car markets.

Apr 27, 2014

Siemens and France weigh in as GE preps Alstom deal

PARIS/FRANKFURT, April 27 (Reuters) – Siemens and
the French government intervened in U.S.-based General
Electric’s plan to buy the power arm of France’s Alstom
on Sunday by offering an alternative tie-up between
European “champions” and a pledge to act in France’s national

Though Alstom is privately owned, France’s firebrand Economy
Minister Arnaud Montebourg issued a stark reminder of the
influence the government holds over a company that relies
heavily on orders from state rail operator SNCF and partly
state-owned utility EDF.

Apr 27, 2014

Siemens weighs in as GE prepares Alstom power deal

PARIS/FRANKFURT (Reuters) – Alstom’s (ALSO.PA: Quote, Profile, Research, Stock Buzz) arch rival Siemens wants talks with the struggling French engineering group, the German company said on Sunday, the day General Electric (GE.N: Quote, Profile, Research, Stock Buzz) boss Jeff Immelt is due in Paris to thrash out a deal to buy Alstom’s global power arm.

Siemens (SIEGn.DE: Quote, Profile, Research, Stock Buzz) said in a statement that it had written a letter to “signal its willingness to discuss future strategic opportunities” with the French group.

Apr 22, 2014

Philips warns of challenging year after first-quarter profit drops

FRANKFURT (Reuters) – Philips (PHG.AS: Quote, Profile, Research, Stock Buzz) reported a bigger-than-expected fall in quarterly operating profit and warned of a challenging 2014 owing to unfavorable exchange rates and slowing demand for medical equipment in China and Russia.

The Dutch healthcare, lighting and consumer appliances group said on Tuesday that earnings before interest, tax and amortization (EBITA) dropped 22 percent to 314 million euros ($433.4 million) in the first quarter through the end of March, missing consensus for 341 million in a Reuters poll.