Siemens AG (ADR) (NYSE:SI) (FRA:SIE) (ETR:SIE) agreed to acquire U.S. oilfield equipment maker Dresser-Rand Group Inc. (NYSE:DRC) for $7.6 billion, paying $83 a share in cash. The Munich-based company is shifting to the U.S. energy market, partly due to Germany’s strict controls over shale-gas exploration. Siemens – Dresser-Rand cash takeover bid German engineering company Siemens AG (ADR) (NYSE:SI) (FRA:SIE) (ETR:SIE) said in a statement it will acquire Dresser-Rand Group Inc. (NYSE:DRC) for $7.6 billion including debt. Siemens beat out Swiss rival Sulzer, which had been in talks with the U.S. oilfield equipment maker over a stock-based merger. However, the all-cash nature…
Siemens (SI) Strikes $7.6B Deal To Buy Dresser-Rand (DRC)
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports