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Siemens Deal to Acquire Dresser-Rand Could be Announced Monday -Reuters


Siemens AG (OTC: SIEGY) is reportedly close to a deal to acquire Houston-based Dresser-Rand Group Inc (NYSE: DRC) for cash, according to sources, as reported by Reuters on Sunday. The deal could be announced as early as Monday.

Sources say Siemens purchase price is in the low-mid 80's per share. Late Friday, Financial Times reported General Electric Company (NYSE: GE) was joining the competition for Dresser-Rand, sending the share price as high as $85.00, after-hours. Switzerland's Sulzer, Ltd. (OTC: SULZF) is said to have proposed an all-stock merger.

A spokesperson for Dresser-Rand was not available for comment. A Siemens spokesperson declined comment on the rumor. A GE spokesperson declined comment to Benzinga on Sunday.

Dresser-Rand shares closed the regular session Friday at $79.91, a gain of more than 9%.

Posted-In: ReutersNews Rumors M&A Movers


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