Shares in Bombardier Inc are up more than 6% today
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Posted On: 04/11/2017 4:29:25 PM
Shares in Bombardier Inc are up more than 6% today as word has leaked out that the company is in talks with German industrial giant Siemens AG. The two companies are discussing a merger of their train operations. Motive for the combination is to create a single, more efficient entity better positioned to meet rising competition from China.
Anonymous sources indicated that if the deal does come to fruition that the merger could occur as early as this summer. Approval would be subject to antitrust review and could also face opposition from the unionized workforce of one or both companies. Canadian markets are mixed on the day with the S&P/TSX Composite lower while the Venture Exchange is higher on surging precious metals prices.
Anonymous sources indicated that if the deal does come to fruition that the merger could occur as early as this summer. Approval would be subject to antitrust review and could also face opposition from the unionized workforce of one or both companies. Canadian markets are mixed on the day with the S&P/TSX Composite lower while the Venture Exchange is higher on surging precious metals prices.
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