Alstom battle to upstage Siemens chief's grand strategy launch

[riky]

Alstom battle to upstage Siemens chief's grand strategy launch

<p><a href="http://news.yahoo.com/alstom-battle-upstage-siemens-chiefs-grand-strategy-launch-150504009--sector.html"><img src="http://l2.yimg.com/bt/api/res/1.2/aQwwzieqdvuEhFY4pGcySA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-05-04T150504Z_1_CBREA4315WJ00_RTROPTP_2_ALSTOM-OFFER.JPG" width="130" height="86" alt="Rain clouds are seen in the sky where a Haliade 150 offshore wind turbine operates at Alstom's offshore wind site in Le Carnet, on the Loire Estuary, near Saint Nazaire, western France" align="left" title="Rain clouds are seen in the sky where a Haliade 150 offshore wind turbine operates at Alstom's offshore wind site in Le Carnet, on the Loire Estuary, near Saint Nazaire, western France" border="0" /></a>By Noah Barkin and Irene Preisinger BERLIN (Reuters) - When Joe Kaeser took the reins of German engineering giant Siemens last summer after a boardroom coup, he made clear his priority was closing a yawning profitability gap with rivals such as General Electric . On Wednesday the 56-year-old Bavarian presents his grand strategy, but it is likely to be overshadowed by something that investors and even some Siemens executives fear could undermine his profit drive: a politically-charged battle with the U.S. group for France's Alstom . Siemens announced last week that it would make a formal offer for Alstom - most likely in the form of a swap of power and rail assets - after being encouraged by the French and German governments to step in. Hours later, Alstom's board chose to accept a $16.9 billion GE bid for the French firm's energy unit.</p><br clear="all"/>

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