CORPORATE DEALS
- From: Vol 5, Issue 5 (May 2004)
- Category: Need to know
- Region: Unspecified
- Country: Italy and United States
- Related Companies: Acciona, Acea, Aguas de Barcelona, Endesa, FCC, General Electric/Osmonics, Inditex, ITT Industries, Sacyr, Siemens, Suez, US Filter and Veolia
Siemens’ $993 million acquisition of US Filter’s systems and services businesses brings another heavyweight industrial into the water equipment market to compete alongside ITT and GE.
The markets seemed to think that Veolia had got the best of the deal, marking its share price up by 2.8%, while Siemens’ price fell by 1.6%. The Filter businesses, with a turnover of $1.2 billion and 5,800 on the payroll, treble Siemens’ exposure to the water sector, which is currently limited to some water treatment ...
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