France: Alstom merges with Canada Bombardier: integration with Siemens failed
France: Alstom
Alstom, a railcar manufacturer, announced today that it has reached a basic agreement to acquire the railroad business from Bombardier, a major Canadian company.
Alstom has signed a memorandum of understanding to acquire the railway business from Bombardier.
The acquisition will range from € 5.8 billion to € 6.2 billion (¥ 700 billion).
Purpose of the acquisition:
Alstom said in a statement that it would “strengthen its world position to compete with China.”
Integration failure with Siemens:
Alstom wanted to integrate with leading German company Siemens.
However, last year, the EU indicated that it would not accept this and had to reconsider its strategy.
NHK News