Alstom, Siemens skip chance to amend their merger plans
9 July 2018. By Natalie McNelis
Alstom and Siemens have passed up an opportunity to file changes to their merger to EU officials reviewing the transaction, MLex has learned.
The railway-equipment companies had until midnight Friday to propose amendments to their multi-billion euro combination to address any competition concerns the European Commission had signaled.
The regulator's deadline to decide on the deal remains Friday, July 13. The commission has until that date to approve the deal or open an in-depth probe.
The combination raises antitrust questions, because Berlin-based Siemens Mobility and Alstom — based in Saint-Ouen, near Paris — compete head-to-head in the production of rolling stock and railway signaling equipment.
EU antitrust chief Margrethe Vestager has said officials will analyze these markets carefully because of their "crucial importance" to Europe.
That the parties have not offered remedies in the first phase of the investigation is an acknowledgement that the deal will probably require an in-depth investigation.
Siemens is traded on the Frankfurt stock exchange. Alstom is traded on Euronext.
The case file number is M.8677.