Report: Bombardier, Siemens continue toward rail unit merge

NEW YORK — BloombergMarkets reports that people familiar with the matter say Siemens AG and Bombardier Inc. are exploring options, including two rail joint ventures as part of their planned train-equipment merge.

The companies are making progress on one joint venture for their rolling stock operations, which would be controlled by Montreal-based Bombardier, and another for signaling, in which Siemens would have a majority, with the possibility a deal could be reached in the coming months, according to the reports.

Representatives for Siemens and Bombardier declined to comment on the BloombergMarkets report. For the full story, click here.