By Allison Lampert, Rachit Vats, Reuters; September 16, 2020
Sept 16 (Reuters) – French train maker Alstom said on Wednesday it has lowered its offer to acquire Bombardier Inc’s rail business by $350 million, but the two still expect to close the deal to create the world’s second-largest rail company earlier than expected.
The two companies announced the revised terms of an agreement which gives Bombardier’s rail unit an enterprise value of $8.4 billion, in a deal that would allow the cash-strapped Canadian firm to pay down some of its $9.3 billion in debt.