Siemens AG and Mitsubishi Heavy Industries Ltd. chief executives officers argued their case for a joint purchase of Alstom SA’s energy operations, saying their bid trumps an offer from General Electric Co. as they push to secure backing for their proposal from the French government.
Siemens AG said its joint bid with Mitsubishi Heavy Industries Ltd. for Alstom SA’s energy operations trumps a competing offer from General Electric Co., as the German manufacturer tries to win the backing of the board and the French state.
SPX Corp., which ended talks to buy equipment maker Gardner Denver Inc. last year, is poised to become a target itself after activist Relational Investors LLC urged it to shed assets and focus on industrial pumps.
3M Co., the manufacturer whose new chief executive officer has said he’s considering larger deals, agreed to buy Ceradyne Inc. for $860 million to expand into ceramics used in energy, aerospace and defense industries.
Boeing Co. is sparring with suppliers such as United Technologies Corp. as the world’s largest planemaker demands that parts vendors cut prices or risk losing work on new jets such as the 777X and 787 Dreamliner.
Invensys Plc, the engineering company whose takeover discussions with Emerson Electric Co. broke down last year, is becoming more palatable for acquirers after shedding its railroad division and reducing pension liabilities.