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Bombardier Inc
Symbol BBD
Shares Issued 2,128,091,942
Close 2020-07-09 C$ 0.425
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Globe/wire say Alstom moves to get Bombardier deal done

2020-07-10 08:18 ET - In the News

The Globe and Mail reports in its Friday edition that France's TGV high-speed train maker Alstom SA on Thursday offered to sell a French rail factory and make other concessions to win European Commission approval for its planned purchase of Bombardier's transportation business. A Reuters dispatch to The Globe says that the commitments also included selling Alstom's regional train unit Coradia Polyvalent and divesting a Bombardier commuter trains division and the related production facilities at its Hennigsdorf site in Germany. Alstom's bid in February of up to 6.2 billion euros for Montreal-based Bombardier's rail business has faced scrutiny from European Union antitrust authorities, which have been expected to demand concessions to approve the deal. By buying Bombardier's train division, Alstom is seeking to create the world's second-largest train maker to compete more effectively with Chinese leader CRRC Corp. Alstom said it would sell its Reichshoffen regional train factory in eastern France. Bombardier closed Thursday at 42.5 cents, off a penny on the Toronto Stock Exchange.

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