GE to Acquire Dresser, Inc. for $3B

GE

today announced that it has signed a contract to acquire Dresser, Inc.. The $3 billion deal is the latest in a series of acquisitions over the last 10 years that has helped grow GE's energy business and deliver record profitability. The addition of Dresser's portfolio, which includes technologies for gas engines, control and relief valves, measurement, regulation and control solutions for gas and fuel distribution, will expand GE's core energy offerings and extend its reach into adjacent offerings for its energy and industrial customers around the world. The deal is subject to customary closing conditions and is expected to close promptly after receiving regulatory approval.