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Siemens to acquire Dresser-Rand for $7.6 billion  

By Gerald Ondrey |

Siemens AG (Munich, Germany; www.siemens.com) executes on its Vision 2020 with a decisive move to strengthen its core. The company has entered into an agreement with Dresser-Rand (Houston), which is listed on the New York Stock Exchange, to acquire all of the issued and outstanding common shares of Dresser-Rand by way of a friendly takeover bid. Siemens’ bid is unanimously supported by Dresser-Rand’s Board of Directors. The offer price is $83 per common share in cash, or a total transaction value of approximately $7.6 billion (approximately €5.8 billion). With its comprehensive portfolio of compressors, steam turbines, gas turbines and engines, Dresser-Rand is a leading supplier for the oil & gas, process, power and other industries in the related energy infrastructure markets worldwide. The acquisition complements Siemens’ existing offerings, notably for the global oil & gas industry and for distributed power generation. “As the premium brand in the global energy infrastructure markets, Dresser-Rand is a perfect fit for the Siemens portfolio. The combined activities will create a world- class provider for the growing oil & gas markets. With this, Dresser-Rand will become ‘The oil-and-gas’…
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