French locomotive giant, Alstom to buy Bombardier rail unit for up to US$6.7 bn

FRANCE – Alstom SA, a French multinational company with interests in the locomotive industry, has agreed to buy the rail division of Canada’s Bombardier Inc for up to 6.2 billion euros ($6.7 billion). The agreement between Alstom and Bombardier would unite companies with an estimated $17 billion in combined revenue. Reuters reports that the acquisition will create the world’s No. 2 train manufacturer and better position the European company to take on Chinese leader CRRC Corp. The French firm said the two were complementary geographically, adding Bombardier’s European footprint was…

Read More