General Electric Co. (GE) has had discussions with Dresser-Rand Group Inc. (DRC) about potentially buying the Houston-based oil-equipment maker, the Financial Times reported Friday, citing people familiar with the matter.

The Wall Street Journal reported Friday that Siemens AG (SIE.XE, SIEGY) and Sulzer AG (SULZF, SUN.EB) were lining up competing bids for Dresser-Rand.

Renova, a holding company of Russian oligarch Victor Vekselberg, on Friday said it bought a 4.99% stake in Dresser-Rand.

According to the FT, GE is considering whether to launch a formal offer.

Website: www.ft.com

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