Siemens Expected to Submit Alstom Offer This Week

German energy giant, Siemens, could submit an official bid for Alstom by the end of this week.

Siemens is working on an offer that could take the form of an asset swap.

As a result, Siemens could offer its rail unit with a certain amount of cash for Alstom’s power business, according to Reuters.

Last month, the company sent a letter to Alstom’s Board “to signal its willingness to discuss future strategic opportunities.“

According to Reuters’ sources, Siemens is trying to sweeten the asset deal.

Besides offering the train unit, the German company is considering a joint-venture in rail signaling.

Another novelty in this deal is that Siemens is mulling a sale of Alstom’s wind and nuclear businesses to French energy group Areva, as well as setting up of headquarters of transmission and distribution units in France.

Siemens said that it is going to use four weeks for due diligence, prior to making an official offer.