Alstom SA slumped nearly 5% on Tuesday after it made a deal to acquire Bombardier Transportation yesterday.
French rail transportation company signed a Memorandum of Understanding with Canadian Bombardier Inc. and Quebec Deposit and Investment Fund (CDPQ) to seal the €6 billion-worth agreement. CDPQ became the largest shareholder of Alstom at the same time, controlling around 18% of the stocks.
Alstom slid 4.59% at 4:04 am ET to trade for €48 per share, marking a one-week low.
