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News Breaks
June 20, 2014
14:19 EDTALSMY, SIEGYSiemens says sees little chance of winning Alstom bid, Bloomberg reports
News For SIEGY;ALSMY From The Last 14 Days
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July 7, 2015
08:04 EDTSIEGYSiemens partners with Con Edison to install storm hardening system in Manhattan
Siemens is partnering with Con Edison, the utility that powers New York City, to install technology that will help keep Con Edison customers in sections of Lower Manhattan in service during severe flooding. Con Edison chose Siemens to collaborate on a new automation system to synchronously control underground switches and circuit breakers that will separate two of Con Edison’s power distribution networks into four sub-networks. That will allow the utility to continue delivering power to parts of Lower Manhattan, including Wall Street, in the event of flooding to coastal areas. Con Edison is the first utility in the U.S. to implement this storm-hardening technology.
July 6, 2015
11:05 EDTALSMY, SIEGYSiemens may be interested in Alstom assets, Reuters reports
Siemens (SIEGY) could still be interesting in buying power-generation assets from Alstom (ALSMY) on the same terms it offered a year ago, reports Reuters. According to a senior management source, Siemens will offer the deal if GE's (GE) deal falls through. The personal added that Siemens sees the pace of change slowing down after a flurry of acquisitions, disposals and job cuts. Reference Link
08:17 EDTSIEGYSiemens requires more service contracts to reach margin target, Bloomberg says
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June 30, 2015
07:16 EDTALSMYAlstom CEO Kron ‘confident’ that EU approves GE transaction, Reuters reports
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June 29, 2015
18:04 EDTSIEGYS&P announces changes to the S&P 400, 600 indices
S&P SmallCap 600 constituent Cracker Barrel Old Country Store (CBRL) will replace Dresser-Rand Group (DRC) in the S&P MidCap 400, and Marten Transport (MRTN) will replace Cracker Barrel Old Country Store in the S&P SmallCap 600 after the close of trading on Wednesday, July 1. Siemens AG (SIEGY) is acquiring Dresser-Rand Group in a deal expected to be completed soon.
06:39 EDTSIEGYEuropean Commission approves acquisition of Dresser-Rand by Siemens
The European Commission has approved under the EU Merger Regulation the proposed acquisition of rotating equipment manufacturer Dresser-Rand (DRC) of the U.S. by Siemens (SIEGY) of Germany. The Commission had concerns that regarding ADGT drivers, turbo compressors and turbo compressor trains driven by ADGTs the transaction would reduce the number of significant suppliers from 3 to 2. The initial investigation also indicated that the parties' competitors for the supply of small steam turbines of less than 5 MW have a limited presence and do not pose a significant competitive constraint on the parties. These two concerns could lead to less product variety and ultimately higher prices.After an in-depth investigation launched in February, the Commission has concluded that the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it.
June 28, 2015
16:20 EDTALSMYGE requests July 2 hearing in EU to defend Alstom bid, Reuters says
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