⁍ French transport infrastructure company Alstom has lowered its offer price to acquire Canadian Bombardier Inc’s rail business by $350 million.

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⁍ The deal gives Bombardier’s rail unit an enterprise value of $8.4 billion.

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⁍ Last month, Bombardier reported a loss of $319 million after missing quarterly earnings estimates.

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– French transport infrastructure company Alstom has lowered its offer price to acquire Canadian Bombardier Inc’s rail business by $350 million, the companies said on Wednesday. Under the revised terms, the deal gives Bombardier’s rail unit an enterprise value of $8.4 billion, which would allow the Canadian firm to pay down some of its $9.3 billion in debt. Bombardier, which has been under pressure due to higher rail costs, said it expects net proceeds of about $4 billion from debt reduction and Canadian pension fund la Caisse’s equity position of $2.2 billion. Last month, it reported a loss of $319 million after missing quarterly earnings estimates. The loss prompted Alstom, which first made an offer in February for Bombardier’s transportation business, to revisit the deal. Alstom said in August the recent quarterly results point to Bombardier’s transportation unit’s ongoing challenges, but believes it can restore the unit’s profitability in the medium-term.