German engineering company Siemens and Japan’s Mitsubishi have presented a joint offer to France’s Alstom that includes seven billion euros in cash.<br /><br />Under the deal, Siemens would buy Alstom’s gas turbines business for 3.9 billion euros and Mitsubishi would buy stakes in the French company’s key assets.<br /><br />This bid challenges an offer of 12.4 billion euros by General Electric for all of Alstom’s energy arm, which includes its thermal power, renewable power and grid businesses.<br /><br />The French government has attempted to negotiate better offers and alliances in order to maintain Alstom’s important role in transport and energy. <br /><br />They see both as vital industries at a time when the country’s unemployment rate is stuck above ten percent.<br /><br />Alstom currently employs 18,000 people in France.
