Conglomerates Sector Review: Finmeccanica Attracts Suitors, United Technologies Moving Up

Siemens AG (NYSE:SI): Hitachi (NYSE:HIT) has shown interest in buying Finmeccanica’s rail businesses, sources said, according to Reuters. A source says Siemens (NYSE:SI), Alstom, Mitsubishi and Bombardier have also expressed interest.

The shares closed at $101.93, down $0.74, or 0.72%, on the day. Its market capitalization is $89.32 billion.

General Electric Company (NYSE:GE): Tensar Corporation announced that General Electric Capital has provided an underwritten commitment for a restructured $175M credit facility that is expected to close in April. GE will serve as the administrative agent for the facility which extends the senior secured indebtedness of the company out until 2014. As previously announced the senior secured lenders have provided a forbearance to accommodate the closing schedule.

The shares closed at $20.04, down $0.01, or 0.05%, on the day. Its market capitalization is $212.05 billion.

United Technologies Corp. (NYSE:UTX): Otis Elevator Company Saudi Arabia Ltd., an affiliate of Otis Elevator Company, a unit of United Technologies Corp. (NYSE:UTX), announced that it has won six contracts to supply and install 263 elevators, including 10 double-deck elevators, and 90 escalators to different buildings in the King Abdullah Financial District in Riyadh, Saudi Arabia. The King Abdullah Financial District is designed to be the world’s first newly developed major financial district of the 21st century and represents the latest stage in a carefully planned and implemented program of financial modernization by Saudi Arabia.

The shares closed at $83.11, down $0.39, or 0.47%, on the day. Its market capitalization is $75.54 billion.

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To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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