Siemens and Mitsubishi Heavy Industries have sweetened their offer for French company Alstom by €1.2bn, pushing the value of the deal to €8.2bn.The companies have also put forward a simplified deal structure under which MHI will take a straightforward 40% stake in Alstom’s combined steam, grid and hydro business for €3.9bn.
The revised deal structure followed “extensive discussions with all stakeholders” since an original €7bn bid was filed on Monday. It is designed to “reduce complexity, strengthen execution and narrow risk exposure”.
GE submitted a revised $13.5bn bid which is on the table until 23 June.
Alstom is a big player in the global geothermal energy market. Recently, Alstom has announced buying an interest in a Turkish geothermal energy company and has been tapped to build the 25 MWe Los Humeros III - Phase A geothermal plant in Mexico.
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