Dresser-Rand Group Inc. (NYSE: DRC) shares jumped on news it's in advanced discussions over a merger with Swiss equipment maker Sulzer AG.
The Zurich-based weekly Handelszeitung said a merger announcement could be forthcoming in October.
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Sulzer confirmed the talks in a statement Wednesday. "There can be no assurance that a transaction will result from these discussions, and Sulzer does not intend to comment further unless and until an agreement is reached, the company said.
The combined company would have annual sales of $5.35 billion and a market capitalization of $8.56 billion.
Dresser-Rand traded recently at $73.47, up 8.3 percent.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.