April 29 Germany's Siemens AG is
considering paying just under 1 billion euros ($1.38 billion)
for a unit of Britain's Rolls-Royce that makes equipment
for the oil and gas industry and power-generation gear for
utilities, sources familiar with the matter said.
Siemens is interested in Rolls-Royce's energy businesses
outside of the nuclear industry, according to the sources.
The news comes on the same day Siemens said it would make an
offer for French engineering group Alstom's power
business if it is given enough time to draw up a detailed plan
to rival a bid by General Electric.
Both Siemens and Rolls-Royce declined to comment.
Rolls-Royce's energy division posted underlying revenue of
1.05 billion pounds ($1.77 billion) in 2013, including its
Sources said the talks between Rolls-Royce and Siemens had
been going on long before the Alstom deal cropped up.
($1 = 0.5936 British Pounds)
(Reporting by Richa Naidu in Bangalore, Brenda Goh in London
and Arno Schuetze in Frankfurt Additional reporting by Maria
Sheahan in Frankfurt and Anjuli Davies in London; Editing by