halt in trading that fueled talk of a possible counteroffer to Siemen's bid for Dresser Rand . We prefer the repurchase, both because shares of Dresser Rand are already up nearly 20% in September after multiple acquisition bids, and because
electricity storage facility as its centerpiece. The companies - Duke Energy's (NYSE: DUK ) Duke-American Transmission, Dresser - Rand (NYSE: DRC ), Magnum Energy ( OTC:MGNEF ) and Pathfinder Renewable Wind Energy - also are proposing to build a large
Siemens ( OTCPK:SIEGY ) lost out to GE for Alstom's gas turbine business earlier this year but has now acquired Dresser - Rand (NYSE: DRC ), a major supplier of equipment such as compressors and gas turbines used to exploit shale resources
* Siemens shares down 0.4 percent (Adds financial, legal advisers in last paragraph)
FRANKFURT (Reuters) - Germany's Siemens AG has agreed to buy U.S. oilfield equipment maker Dresser - Rand Group Inc for $7.6 billion in cash, paying a relatively rich price to belatedly beef up its presence in the U.S. shale oil and gas industry.
FRANKFURT, Sept 22 (Reuters) - Germany's Siemens does not foresee any further significant acquisitions in oil and gas equipment following its agreement to buy Dresser Rand for $7.6 billion, it said.
NEW YORK, Sept 22 (Reuters) - Sigma-Aldrich shares were surging on Monday, up 34.4 percent to $137.60 after German drugs and chemicals maker Merck KGaA said on Monday it agreed to acquire Sigma-Aldrich for $17 billion in cash to boost its life science business.
* Bids $83 per share in agreed deal, biggest in its history
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On September 21, Bloomberg and the Wall Street Journal reported that Siemens AG ( OTCPK:SIEGY ) is purchasing Dresser - Rand Group (NYSE: DRC ), in a cash deal, for $83.00/share and assuming $1.1 billion in debt in a deal valued at