Siemens and Alstom announce “merger of equals”
It’s official: Siemens AG and Alstom SA have signed a Memorandum of Understanding “granting exclusivity to combine mobility businesses in a merger of equals.” The combination is largely viewed as a move to remain competitive in a global market in which Chinese rolling stock manufacturers have gained considerable market share. Based on how the merged company, “Siemens Alstom,” will be structured and named, Siemens is the lead company, with 6 of 11 board members.