Alstom stocks in the limelight

Alstom T&D is in the limelight today, the stock price spurting up over 3% at Rs.279.75, after having hit an intra day high at Rs.291.90. Its 52-week high is at Rs.297.

The stock has jumped up on the announcement today that GE has made an open offer to the company. GE has offered to buy 25% in Alstom T&D India at a price of Rs.261.25/share. It is also planning to buy 26% in Alstom India at Rs.382.20/share though the stock price of Alstom India is currently down in the red at Rs.451. The total tally for buying into both these companies for GE would be around Rs.2377 crore. GE has categorically stated that the it will proceed with the offers only if its bid for Alstom’s energy arm goes through.

It is widely expected that Siemens will make a counter bid tomorrow and it is rumoured that  Siemens is willing to match or exceed the financial terms of GE’s offer. This battle between two giants , GE and Siemens is expected to keep the Alstom counter buzzing.