Bilfinger SE is considering placing a bid on the Siemens AG water technologies business that is currently for sale, according to two anonymous individuals familiar with the situation, reported by Bloomberg.
Bilfinger CEO Roland Koch said he has 850 million Euros or $1.1 billion available for acquisitions. The Warrendale, Pa.-based Siemens has an estimated value of 500 million Euros to 900 million Euros, according to Morgan Stanley.
Bilfinger currently has 2,000 employees in its water treatment segment.
Representatives from Bilfinger and Siemens declined to comment on the matter.