Altrad in talks to acquire Germany's Bilfinger – Reuters

French industrial services group Altrad Investment Authority SAS is holding talks for a possible acquisition of German industrial services provider Bilfinger SE, Reuters reported Feb. 8, citing sources close to the matter.

Altrad is competing with New York-based private equity firm Clayton Dubilier & Rice LLC, and both companies have offered over €30 per share for Bilfinger, which has a market value of €1.3 billion, one of the sources told Reuters.

Altrad's talks are not yet exclusive and could fall apart, the source added.

Clayton Dubilier & Rice and Bilfinger declined the news outlet's request for comment, and an Altrad representative was not immediately available for comment.