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.

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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

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