(AOF) – ALSTOM (- 4.93% to 47.82 euros)
It is now official. Alstom has announced the signing of a memorandum of understanding with Bombardier and the Caisse de depot et placement du Quebec (CDPQ) for the acquisition of Bombardier Transportation, the railway activities of the Canadian company Bombardier. Such a merger will give birth to a behemoth, the world's number two in the sector, with an order book of around 75 billion euros and a turnover of around 16 billion euros. The acquisition price will be between 5.8 and 6.2 billion euros and will be paid in cash and in shares newly issued by Alstom. JPMorgan downgraded its recommendation to Overweight Neutral on Alstom shares.
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After four years of strong growth, driven in particular by aeronautics, the automobile and mechanics, purchases of machine tools in France fell slightly in 2018 according to the annual market study of Symop, the professional union of the sector . Sales reached 1.632 billion euros in France, down 0.6% compared to 2017. Faced with this slowdown, French producers have held up better than their European neighbors, especially German and Italian. Their positioning in niche markets, which are rather high-end, is therefore beneficial to them. With 739 million euros of machines produced in 2018, they constitute only 3% of European production. Orders increased very slightly (+ 0.9%).
The Symop expects a growth of 2% in the machine tool market in 2109 due to the international economic situation, marked by Brexit and the Sino-American trade war.