French engineering company Alstom and its Canadian rival, Bombardier, have wrecked their talks about a merger of their train units, not agreeing to the price and management structure, Rambler News reports.
According to BFM TV, the negotiations were initiated by Bombardier in March 2017, offering Alstom to buy its train unit. However, the talks remained “at a preliminary stage” because the companies failed to agree on the transaction price and the management structure.
Thus, CEO of Alstom, Henri Poupart-Lafarge insists on maintaining the management structure of Alstom in the joint company. Beaudoin family, which owns a large portfolio of voting shares of Bombardier, wants to retain control of Alstom-Bombardier.
