France Picks: GE is the One for Alstom
its offer, which valued Alstom's power businesses at 14.6 billion euros, well above GE's 12.4 billion, was "superior industrially, financially and socially," and reaffirmed pledges to create new jobs in France, a commitment GE has also made. Emerging from talks with Hollande, Siemens CEO Joe Kaeser said he was "very grateful" that the president had heard his pitch and added: "We will respect every decision." Hollande's government blocked GE's initial advances on Alstom some two months ago and forced it to improve its offer by encouraging Siemens to enter the fray and
Siemens CEO Calls Job Cut Reports Incorrect
The chief executive of Siemens said in a note to German staff on Friday that reports the company was planning to cut 11,600 staff were based on an incorrect interpretation of remarks he made to investors. "The reports are not right and are based on a wrong interpretation," CEO Joe Kaeser said in the note, a copy of which was seen by Reuters. (Reporting by Jens Hack and Noah Barkin)