(MENAFN) Germany's Siemens and Japan's Mitsubishi Heavy Industries (MHI) have raised their offer for France's Alstom from USD9.52 billion to USD11.2 billion, Xinhua reported.
"The cash portion of the offer will increase by USD2 billion to USD13.95 billion, while the overall evaluation of the energy business of Alstom rises by USD680 million to a total of USD24.84 billion," a statement by the two firms said.
France earlier called on interested bidders to improve their offers to acquire the energy arm of Alstom. Siemens and MHI plan with their newly rectified offer to challenge US rival General Electric's bid of USD21.1 billion.
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