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Alstom acquired by Siemens: but what do the shareholders do?

Alstom acquired by Siemens: but what do the shareholders do?

At a General Meeting held on 17 July 2018, the shareholders voted in favour of the acquisition of Alstom by Siemens. What a pathetic decision, when at the announcement of the discussions with Siemens the executives and the board of directors sold the idea of a “merger between equals”!

The takeover  of Alstom by Siemens presented as a merger “between equals“

The takeover of Alstom by Siemens presented as a merger “between equals“

Without contesting the strategic interest of the merger between these firms, this operation being presented as a merger “between equals” which is – if it is approved in these conditions – a takeover of Alstom by Siemens, and harms the minority shareholders with an insufficient control premium and is unsatisfactory in terms of governance.

Executive compensation: what do shareholders do?

Executive compensation: what do shareholders do?

Once again this year, executive compensation has created a media buzz about some emblematic cases, because they are too decorrelated from the economic and social reality of the company.

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