Reginal Thomas
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Siemens Acquiring Dresser Rand for $7.6 Billion

Siemens has agreed to acquire Dresser Rand, a U.S. oilfield equipment maker for $7.6 billion in cash. The deal will strengthen Siemen presence in the U.S. shale gas market. Siemens is also selling its stake in its household appliances joint venture BSH to partner Robert Bosch for $3.9 billion in order to help finance the Dresser Rand deal. Jasko Terzic, an analyst for DZ Bank said “The Dresser Rand offer is high but can be justified in our view due to the very good fit into Siemens target to strengthen the U.S. and oil & gas business.”