Alstom’s board to decide on possible offer for Bombardier’s rail business: report

📆 12-02-20 21:45:00
📰 globeandmail

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Alstom’s board to decide on possible offer for Bombardier rail business: report GlobeBusiness

Arnd Wiegmann/Reuters

French TV station BFM reported on its website that Alstom was set to make a firm offer for Bombardier’s Berlin-based rail division. It said Bombardier opened its books to Alstom for due diligence after finding Alstom’s first offer attractive. A deal would help Montreal-based Bombardier improve its financial footing. It faces higher-than-expected-costs in its rail division and $9.7 billion in outstanding debt, according to Refinitiv data. An acquisition would help Alstom compete more effectively against Chinese giant CRRC Corp..

“After the failure of the Alstom-Siemens merger, it would be a good strategic rebound for Alstom,” said a third source familiar with the French government’s thinking.

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