STILL FIGHTING
- From: Vol 6, Issue 2 (February 2005)
- Category: Need to know
- Region: Europe
- Country: Austria
- Related Companies: Alstom, Goldman Sachs, Siemens, SMS/SMS Demag and VA Tech (Wabag)
Siemens Austria looks close to achieving its aim of acquiring 90% of VA TECH shares with its improved offer of €65/share now that Goldman Sachs Asset Management has sold up its 8.5%.
However it seems that at least two competitors are making a formal complaint to the European Commission in order to block the acquisition. According to reports, French industry group Alstom disapproves of Siemens expanding to take a 60% share in the European hydro generation market, and SMS Demag, subsidiary of the German engineering group SMS, sees a problem of market ...
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