Siemens Has EU12 Billion for Acquisitions, Sueddeutsche Reports

Siemens AG plans to make acquisitions and the German engineering company has 12 billion euros ($16 billion) in liquidity, Sueddeutsche Zeitung said, citing an interview with Chief Executive Officer Peter Loescher.

In a weaker economy there are lots of buying opportunities and Munich-based Siemens has “clear ideas” on what the company is looking for, Loescher said, according to the German newspaper.

To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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