Siemens to buy Dresser-Rand for $7.6 billion

Dresser-Rand Group Inc. signed a definitive merger agreement in which Siemens would acquire all outstanding shares of Dresser-Rand common stock for $7.6 billion.

Siemens plans to operate Dresser-Rand as its oil and gas business and retain the Dresser-Rand brand name and its executive leadership team. Dresser-Rand is a global supplier of rotating equipment and aftermarket parts and services.

The deal is expected to close in summer 2015 and is subject to Dresser-Rand shareholder approval, regulatory approval in the U.S., Europe and other jurisdictions and other customary closing conditions.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs