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Stock Market & Financial Investment News

News Breaks
February 18, 2014
08:49 EDTDRCDresser-Rand downgraded to Equal Weight from Overweight at Johnson Rice
News For DRC From The Last 14 Days
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September 22, 2014
08:41 EDTDRCDresser-Rand downgraded to Neutral from Accumulate at Global Hunter
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06:45 EDTDRCDresser-Rand volatility expected to move on Siemens acquiring for $7.6B
Dresser-Rand (DRC) volatility is expected to move on Siemens (SIEGY) acquiring for $83 per share in cash. Overall option implied volatility of 31 compares to its 26-week average of 31 according to Track Data, suggesting non-directional price movement.
06:41 EDTDRCSiemens bid prompts Sulzer to end discussions with Dresser-Rand, Reuters says
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September 21, 2014
20:07 EDTDRCDresser-Rand adopts shareholder rights plan
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20:06 EDTDRCSiemens acquires Dresser-Rand for $83 per share or $7.6B
Dresser-Rand (DRC) announced that it has entered into a definitive merger agreement with Siemens (SIEGY) under which Siemens will acquire all of the outstanding shares of Dresser-Rand common stock for $83.00 per share in cash. The transaction is valued at approximately $7.6B, including the assumption of debt. The price represents a premium of 37.4% over Dresser-Rand's closing share price of $60.42 on July 16, 2014, the day before speculation in the press appeared regarding interest in Dresser-Rand. Additional per share cash consideration of 55c shall be applied on the first day of each month starting March 1, 2015, until the closing occurs. Siemens intends to operate Dresser-Rand as the company's oil and gas business retaining the Dresser-Rand brand name and its executive leadership team. The transaction is expected to close in the summer of 2015 and is subject to Dresser-Rand shareholder approval, regulatory approval in the U.S., Europe and certain other jurisdictions, and other customary closing conditions. Shares of Dresser-Rand closed Friday up $6.88 to $79.91.
20:00 EDTDRCDresser-Rand sells to Siemens for $83 per share or $7.6B
15:45 EDTDRCSiemens near deal to buy Dresser-Rand, Reuters says
The German industrial conglomerate Siemens (SIEGY) is close to forming an all cash deal to buy U.S. oilfield equipment maker Dresser-Rand Group (DRC), says Reuters, citing sources. Siemens is expected to pay in the low-to mid-$80s per share for Dresser-Rand and a deal may be announced as early as Monday, added Reuters. Reference Link
September 19, 2014
17:10 EDTDRCGeneral Electric considers deal with Dresser-Rand, FT reports
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16:25 EDTDRCGeneral Electric said in talks with Dresser-Rand on potential deal, FT reports
16:17 EDTDRCOn The Fly: Closing Wrap
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12:40 EDTDRCOn The Fly: Midday Wrap
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09:56 EDTDRCDresser-Rand downgraded to Sell from Buy at Gabelli
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09:19 EDTDRCOn The Fly: Pre-market Movers
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07:43 EDTDRCDresser-Rand volatility expected to move on Siemens is preparing offer report
Dresser-Rand (DRC) volatility is expected to move on Siemens (SIEGY) is preparing to offer more than $6.5B, or at least $85 per share, Bloomberg reports, citing people familiar with the plan. Overall option implied volatility of 38 compares to its 26-week average of 31 according to Track Data, suggesting large price movement.
06:44 EDTDRCSiemens preparing at least $85/share bid for Dresser-Rand, Bloomberg says
Siemens (SIEGY) is preparing to offer more than $6.5B, or at least $85 per share, for Dresser-Rand (DRC), Bloomberg reports, citing people familiar with the plan. Siemens is looking to offer a competing bid to Sulzer's for Dresser-Rand. Germany's Sulzer confirmed it was in takeover talks with Dresser-Rand on Wednesday. Siemensís supervisory board could vote on whether to submit a formal bid at a September 24 meeting, Bloomberg added, citing a source. Shares of Dresser-Rand closed yesterday up 22c to $73.03. Analysts at William Blair yesterday said the company could be worth in the upper $80's to $100 per share in a takeover.
06:35 EDTDRCReport says Siemens planning Dresser-Rand bid, Reuters says
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September 18, 2014
07:16 EDTDRCDresser-Rand could be worth upper $80s to $100 in deal, says William Blair
William Blair raised its price target for Dresser-Rand shares to $82 from $70 citing increasingly likelihood of a merger transaction after Sulzer confirmed itís in talks to acquire the company. The firm believes a deal, should it occur, could bring upside to its new target. William Blair says its initial accretion analysis for a combined Dresser-Rand and Sulzer yields valuations for Dresser shares in the upper $80's to $100 range. It keeps an Outperform rating on the stock. Dresser closed yesterday up 7%, or $4.93, to $72.81.
September 17, 2014
11:28 EDTDRCSulzer confirms talks with Dresser-Rand over potential merger
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11:26 EDTDRCSulzer confirms talks with Dresser-Rand over potential merger
11:19 EDTDRCDresser-Rand, Sulzer said to plan merger, Bloomberg reports
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