Siemens AG To Offer EUR1.3 billion For Ansaldo -Reuters

Reuters reported that Siemens AG is set to offer around EUR1.3 billion ($1.6 billion) for Ansaldo Energia to extend its reach in the gas turbines market. Ansaldo Energia, a joint venture between Italian group Finmeccanica and U.S. fund First Reserve, also makes steam turbines and generators for the power market. Finmeccanica, which has said previously it was looking to sell assets worth about EUR1 billion, would not comment earlier this month on reports it was talking to groups including Siemens for its energy business and Hitachi for its rail-signalling systems unit. Finmeccanica and Siemens declined comment.