Dresser-Rand Group has entered into a definitive merger agreement with Seimens, under which Seimens will acquire all outstanding shares of Dresser-Rand common stock for USD 83 per share in cash. Including assumption of debt, the transaction is valued at approximately USD 7.6 billion and is expected to close in the summer of 2015. Siemens intends to operate Dresser-Rand as the company’s oil and gas business, and will retain the Dresser-Rand brand name.
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