Why Siemens (SI) Stock Is Higher This Morning

NEW YORK (TheStreet) -- Shares of Siemens AG (SI) are up 2.48% to $132.15 in pre-market trade today as the technology company said it will make an offer to Alstom if the France-based manufacture of transport and energy infrastructure agrees to give Siemens access to the company's data room and permission to interview the management during a period of four weeks.

Alstom said it would study a $16.9 billion offer from General Electric (GE) for its energy arm but left the door open for a rival bid from Siemens, according to Reuters.

Must Read: Warren Buffett's 10 Favorite Growth Stocks

 
GE's shares are up slightly this morning.

Alstom gave Siemens until the end of May to propose its own deal after the government of President Francois Hollande balked at the GE's overtures last week, Reuters said.

 
SI Chart

SI data by YCharts

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months.Learn more.

If you liked this article you might like

News Out of Europe: Siemens Shares Hit Record High

News Out of Europe: Siemens Shares Hit Record High

Why Vestas Is the Purest Play in Wind Power

Why Vestas Is the Purest Play in Wind Power

What the Pros at Honeywell, Siemens Learned About Pruning Hedges

What the Pros at Honeywell, Siemens Learned About Pruning Hedges

Don't Expect GE to Buy National Oilwell Varco

Don't Expect GE to Buy National Oilwell Varco

Gold Prices Hit 3-Week High as Rate Hike Fears Simmer Down

Gold Prices Hit 3-Week High as Rate Hike Fears Simmer Down