|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.4600 - 4.4600|
|52 Week Range||3.8000 - 4.8400|
|Beta (3Y Monthly)||0.52|
|PE Ratio (TTM)||10.02|
|Forward Dividend & Yield||0.04 (0.96%)|
|1y Target Est||N/A|
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Today we'll look at Alstom SA (EPA:ALO) and reflect on its potential as an investment. Specifically, we're going to calculate...
The African Development Bank Group said on Friday that two General Electric Co subsidiaries would be temporarily barred from bidding on power contracts as part of a settlement of misconduct cases. The agreement bars GE Power units in Egypt and Germany from bidding for up to 76 months, the bank said. The units, former parts of Alstom that GE acquired in 2015, were found to have engaged in bribery and fraud in 2006 and 2011, the bank said.
When General Electric Co. bought Alstom SA’s power business in 2015, it cost it a little more than $10 billion. In effect, it is the $4 that squares up the balance sheet when a company spends $10 for something that will only add $6 to its net worth. In recording goodwill that exceeded the cost of the acquired power business, GE was essentially telling investors that the Alstom assets it bought had a net worth less than zero.
As General Electric Company (NYSE: GE) prepares to provide a critical financial update for its shareholders on Thursday, investors are still trying to figure out exactly how a blue chip company worth $300 billion at the beginning of 2016 could now have a market cap of under $90 billion. WSJ's Michael Rapoport focuses on GE’s accounting treatment of a $10 billion 2015 deal with Alstom SA (OTC: ALSMY) as one example of the dubious way GE was propping up its bottom line right under investors’ noses. GE acquired Alstom’s Power business for $10 billion but then immediately registered $13.5 billion in goodwill on its books upon the deal’s completion.
Thyssenkrupp downplayed concerns over antitrust scrutiny with regard to its planned joint venture with Tata Steel, saying it could not be compared with a vetoed rail tie-up of Siemens and Alstom. "You cannot put the same label on it at all," Guido Kerkhoff told journalists on Tuesday, adding that the European steel sector had witnessed several large transactions in the past that were approved by regulators after remedies had been offered. The European Commission is expected to send a charge sheet known as a statement of objections to Thyssenkrupp this week, which usually sets out serious competition concerns which companies have to address, sources told Reuters on Monday.
After four decades on the production line at French trainmaker Alstom, Claude Gemino had little sympathy for Emmanuel Macron when Brussels scotched the French president's hopes of creating a European rail champion. For Gemino and many co-workers at Alstom's Belfort factory, Macron's support for the blocked merger with Germany's Siemens signalled a readiness to put shareholders ahead of jobs and protecting France's fragile manufacturing sector.
BRUSSELS (Reuters) - France and Germany will propose changes to the European Union's competition policy after the European Commission, the EU competition watchdog, blocked a merger of the rail units of ...
The merger proposal between the French and the German companies planned to create a European rail champion with revenues of about 15 billion euros ($17 billion). The merger proposal referred only to the companies' transport services and would have combined them into one new firm, solely controlled by Siemens.
TransDigm gets most of its revenue from proprietary aerospace parts, meaning it controls the patents and intellectual property behind the components and is often the sole provider of them. TransDigm’s private equity mentality and capital structure has led to at least 30 publicly disclosed acquisitions over the past decade, the biggest of which was its October agreement to acquire Esterline Technologies Corp. for about $4 billion. Fortive, meanwhile, is aggressively transitioning away from the cyclical, mediocre-growth industrial assets that Danaher Corp. put into the business when it spun it off in 2016.
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Germany will seek a reform of European Union (EU) competition regulations following the decision by the European Competition Directorate to reject Siemens' and Alstom's application to merge their rail businesses. The German government will hold the EU presidency in the second half of 2020 and it will push for changes in unison with its French counterparts.
LONDON/MONTREAL (Reuters) - The European Commission's decision to block a tie-up between Alstom and Germany's Siemens is fuelling speculation over possible merger talks between the French rail business and Canada's Bombardier, lifting both companies' shares on Wednesday. EU anti-trust regulators rejected the Alstom-Siemens deal, saying that it would have hurt competition and led to higher prices for consumers, despite concessions offered by the companies. Following the news, Berenberg analysts upgraded Alstom to a 'buy' rating and set a new price target of 42 euros ($47.9), noting that Alstom may now seek an alternative deal with Bombardier's Berlin-based transportation division.
Berlin and Paris are working to change European competition rules to facilitate large cross-border mergers, after the European Union blocked Siemens and Alstom from merging their rail businesses on Wednesday. It is now the main global rival to Boeing.
"There's a lot of capital there that we're gonna be able to put to use to bring down the leverage on the industrial balance sheet," General Electric CEO Larry Culp says.
French Finance Minister Bruno Le Maire speaks to CNBC’s Hadley Gamble about the rejected rail merger between Siemens and Alstom.