Siemens Can Reach Dresser-Rand With Record Bid: Real M&A

Siemens AG may have to offer a record price tag to finally get the oilfield equipment maker it’s been coveting for three years.

Dresser-Rand Group Inc. has hired Morgan Stanley after potential suitors expressed interest in an acquisition, according to people familiar with the matter. Siemens, which has evaluated Dresser-Rand as a takeover candidate since at least 2011, may be willing to pay more than $80 a share to add the $4.8 billion company’s dominant position in compressors as it seeks to expand in the energy industry, said Gabelli & Co.