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Breakingviews: Siemens will struggle to beat GE’s Alstom bid

Wednesday, April 30, 2014 - 03:39

April 30 - GE has offered €11.4 billion for France's Alstom, a bid which Breakingviews says is hard to beat. A counter offer from Siemens would probably bring less cash to the table.

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So every inch closer to some sort of deal for our storm Robert Cole has been examining some of the characteristics. Of this -- emanate pushed. He joins in this year -- very quickly your peace or natural -- piece today. So it seems to suggest that G and a hazard over Siemens in this bid process. Yeah absolutely I've made since he'll bring up a better price and that's kind of industrial logic behind it as well -- a muscled out the whole story and you say -- in teaching tool today about these -- possible vote. You and hoping pulls Apollo and we look back -- statements time and Diaz who it was a little fuss about nothing all right clearly. On today's evidence GA. Has has has a good hands -- What kind of talk about characteristics in this this latest emanate push -- I think. What you'll get -- you tell me is is the complexity. Of what we're saying we look at the pharma. Deals that are announced recently it's not simple lemonade it's not long company buying enough is even simple bolts on as a nothing it's it's somewhat between the two united. I mean we are in the midst of an enormous done. And made bloom open room -- anyway it's very very big deal some very -- big numbers hundred billion the united. It in the pharma pharma spice but it's not like -- what's I think you might traditionally think of them and I do which he's. Company a bodies company -- no is it as you refer. A kind of pace of little bits and companies being behind the -- bought by somebody else cycle but bolt on acquisitions this is something. I'm between the two and I think that's. Very NC State's very good news on paying for all months and bank investment bank cut Odierno commands -- but because there that the quotes in that but I advice and then valuation advice is is is very important and it's much more difficult. For the market to express a view about flat. At the same time there is a complexity. And perhaps. You know is is still hard to see the value creation and notes to -- Company had a five company the management company B gets but I sell the company -- get a big premium for the search engine what I'll throw you out of it what does it tell us. Well I think 888 tells us patent that actually this is getting a bit clever. It's. The way they wanted to grow who. I think it tells us cuts that priority is slightly different that that priorities are slightly different I think it may tell us that you know long results perhaps that begin to preset these big premiums. Full control. Which is sometimes justified domed synergy benefits that might come through are necessary in his -- frost. Is. They -- -- and that's that's along owned website that. Too many deals in the pops too many in the ideals of being highly destructive and that trying to get clever about. That I think that particularly in these bases I think something to say about competition as well I -- done monopolies. And it seems to me than in a lot of these deals that we -- narrow very significant. Monopoly questions they might be changing so for example is don't know what the question of the monopoly -- trust position. In the UX or in the UK it in Europe but across the world. So that might be changing as well but as I said I think there's a lot up for grabs here or nothing nothing should be theaters things of. Okay Robert -- road is breaking news if you watch our US show 1230 east in 1730 bsc. Every day when every weekday I'm -- problems is rice's.

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Breakingviews: Siemens will struggle to beat GE’s Alstom bid

Wednesday, April 30, 2014 - 03:39

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