Morale suffers as Alstom takeover process extends

Alstom, French maker of power generating, transmissions equipment, trams and trains, is, at the moment, reviewing an offer made by the American conglomerate GE. It is also waiting for the German engineer giant Siemens to come up with a counteroffer so it can be balanced against that of GE.

‘There is no offer from Siemens today. There’s just one offer (GE’s) on the table. But Siemens has expressed, that is it has indicated its interest. If that interest evolves into an offer, we’ll examine it. And we will examine this offer by comparing it to what’s already on the table, and we’ll consider the interests of all the parties involved,’ said Alstom CEO Patrick Kron.

He also highlighted the importance of resolving Alstom’s problems as this uncertainty affects both business and workers morale.

The French government insistently tried to take part in the meetings with GE, in an attempt to protect jobs and workers rights.

As Alstom is waiting for Siemens to make its counter-bid offer, the German company face difficulties of its own, revealing a drop in the quarterly earnings and plans to undergo some re-structuring.