Alstom confirms talks on potential $7 billion Bombardier deal

French train maker Alstom has confirmed it is in talks on the possible acquisiti...

), a potential $7 billion deal that could help it build scale in the increasingly competitive rail sector.

A source familiar with the matter had told Reuters on Sunday that Alstom was close to agreeing to buy Bombardier’s train business in a deal giving the unit a value of $7 billion on an enterprise basis combining equity and debt.Train makers are eyeing consolidation to reduce costs through scale and improve thin rolling stock margins as they face competition from CRRC.

A potential agreement with Bombardier would unite companies with an estimated $17 billion in combined revenues.

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