Japanese Nidec and US KPS Capital Partners are competing to acquire Siemens AG's Innomotics large motors business for €3bn.

Japan's Nidec and US private equity firm KPS Capital Partners are competing to acquire Siemens AG's Innomotics large motors business, potentially worth €3 billion ($3.3 billion). The suitors have been invited to make second-round bids, with Nidec seen as a natural buyer, while KPS is known for previous acquisitions in Germany. Deliberations are ongoing, with no certainty of a transaction.