Siemens AG is in talks with Mitsubishi Heavy Industries about a joint bid to buy Alstom SA's energy business and counter a $17 billion offer by General Electric.
Japan's Mitsubishi Heavy and Munich-based Siemens would decide whether to submit a joint proposal to Alstom's board of directors by Monday, the two companies said on Wednesday. However, the companies didn't give further details.
One option being discussed is for Mitsubishi Heavy to buy Alstom's steam turbine and grid business and Siemens to get the gas turbine operations, people familiar with the matter said earlier on Wednesday, asking not to be identified since the matter is not public. Mitsubishi's role as part of any Siemens offer could potentially boost the valuation of the German company's bid and resolve antitrust issues, two of the people said.
Both Siemens and GE have been trying to get the backing of the French government that is seeking to extract the best guarantees from any bidder for jobs and the country's energy independence.
