Mitsubishi and Siemens considering joint Alstom bid

Siemens and Mitsubishi Heavy Industries (MHI) have indicated that they may make a joint bid for Alstom’s energy business.

MHI has become the third company to show an interest in the French engineering conglomerate after GE initially made a €12.4 billion approach.

MHI and Siemens said in a statement that they will decide on whether to submit a formal proposal to Alstom’s Board of Directors by June 16.

Shunishi Miyanaga, president and chief executive of MHI, said: “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”.

Joe Kaeser, president and chief executive of Siemens, added: “I appreciate MHI’s commitment to join our efforts and I do look forward to working together with MHI to create a long-term oriented solution for Alstom, MHI and Siemens.”