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AP: Mitsubishi, Siemens Mull Joint Bid for Alstom

BERLIN (AP) — Japan’s Mitsubishi Heavy Industries and German rival Siemens AG say they are considering making a joint bid for parts of French engineering firm Alstom.

The two companies issued a statement Wednesday saying they will decide by Monday whether to pitch a proposal to Alstom’s board.

Mitsubishi CEO Shunishi Miyanaga says his firm can “substantially contribute to a partnership solution for Alstom which will create value for all parties involved, including the country of France.”

Alstom has favored a $17 billion bid from U.S. company General Electric, but the French government has been resistant to the deal and sought rival offers.

Alstom’s board is to make a decision by June 23.

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