22.09.2014 - Siemens will buy an American machine building corporation
German company Siemens announced the acquisition of an American manufacturer of equipment for the oil production Dresser-Rand Group. The cost of the transaction is expected to be around 7.6 billion dollars. With its offer to buy shares of the company for the cash ($ 83 per share), a German corporation won the battle with the Swiss Sulzer that proposed merger on the basis of the exchange of shares and companies. It should be noted that revenues Dresser-Rand Group totaled 3 billion dollars last year, and at Siemens - 97 billion dollars.
This acquisition will enable Siemens to strengthen its position on the market of equipment for oil and gas extraction, including the segment of production of hydrocarbons with the help of hydraulic fracturing. We recommend to include the company's shares in the long-term investment portfolio with growth potential by 30-35% per year.