Siemens Mulls Dresser-Rand Offer
July 17 2014 - 7:50AM
Dow Jones News
FRANKFURT--Siemens AG (SIE.XE) declined to comment Thursday on a
media report that it is considering an offer to buy U.S.
engineering company Dresser-Rand Inc. (DRC).
Citing sources close to Siemens, Germany's manager magazin
reports that Siemens has been examining a Dresser-Rand bid for some
time, but was side-tracked in the Spring when an opportunity arose
to bid for French energy giant Alstom's energy assets. Alstom
eventually struck a deal with General Electric Co.
Dresser-Rand, which supplies equipment to the oil and gas
industry, has a current market value of about $4.6 billion. The U.S
company wasn't immediately available for comment.
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