Siemens, GE, others line up for Dresser-Rand

NEW YORK: General Electric is lined up with Germany's Siemens and other companies in pursuit of oil equipment maker Dresser-Rand Industries, with any deal likely to be worth more than US$6 billion.
Sources close to the matter confirmed to AFP Friday that GE has had preliminary discussions with the Houston, Texas company, though they would not say whether GE intends to make a formal offer.
Earlier media reports in Europe said Germany's Siemens was set to launch a multi-billion-dollar bid for Dresser-Rand, even as Siemen's Swiss rival Sulzer had its eyes on the company as well.
Also potentially involved in any dealmaking is the Russian group Renova, which has 5% of Dresser-Rand, according to reports.
The interest, which comes as Dresser-Rand enjoys a business surge on the back of US shale oil and gas drilling, pushed its shares up 9.4% to US$79.91 Friday, taking its market value to US$6.1 billion.
A report in German weekly Manager Magazin said Siemens was prepared to pay more than US$80 a share.
Siemens, GE and Dresser-Rand all declined to comment. – AFP