Dresser-Rand Said to Hire Morgan Stanley to Prep for Bids

Dresser-Rand Group Inc., the U.S. maker of oilfield equipment, is working with Morgan Stanley to prepare for possible takeover bids from companies including Siemens AG, people with knowledge of the matter said.

While Dresser-Rand isn’t actively pursuing a sale, the company retained the financial adviser after potential suitors expressed interest, said the people, who asked not to be identified because the information is private. Siemens, which is looking for oil and gas acquisitions, has been considering a bid for some time, the people said. Sulzer AG, the Swiss pumpmaker, also previously discussed a potential merger with Dresser-Rand, the people said.