The Traderszone Network

Published in TZ Latest News 21 September, 2014 by The TZ Newswire Staff

Siemens in agreed $7.6 billion deal to buy Dresser-Rand

Industrial conglomerate Siemens AG (SIEGn.DE) said on Monday it would buy U.S. Germany’s Siemens said its $83 per-share bid was unanimously supported by Dresser-Rand’s board of directors. Within minutes of that statement, it also announced the sale of its 50 percent stake in BSH Bosch und Siemens Hausgeraete GmbH to joint venture partner Robert Bosch GmbH for 3 billion euros ($3.85 billion), ending their more than 45 year alliance in household appliances. “As the premium brand in the global energy infrastructure markets, Dresser-Rand is a perfect fit for the Siemens portfolio.