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Flowserve to acquire SIHI Group, a leading supplier of complementary vacuum and fluid pumps. Flowserve Announces Agreement to Acquire SIHI Group By: Flowserve DALLAS--(BUSINESS WIRE)--Nov. 14, 2014-- Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that it has submitted a binding offer to acquire the equity of SIHI Group B.V., a global provider of engineered vacuum and fluid pumps and related services, from TBG Europe NV for consideration of approximately 298 million ($372.5 million equivalent1). Closing is subject to standard regulatory approvals and other customary conditions. The relevant work councils of SIHI and other employee representative bodies will also be consulted prior to formal agreement. Flowserve anticipates funding the transaction with cash on hand and debt, with closing expected to occur early in first quarter of 2015. SIHI Group, based in the Netherlands, and its subsidiaries
Nadia Damouni of Reuters discuss how U.S. oilfield services provider Halliburton is in talks to buy rival Baker Hughes. Halliburton in Talks to Buy Baker Hughes By: Nadia Damouni (Reuters) Nov 13 (Reuters) - Oilfield services provider Halliburton Co is in talks to buy rival Baker Hughes Inc, a person familiar with the matter said on Thursday, but any potential deal could run into antitrust concerns. Officials at Baker Hughes and Halliburton, both based in Houston, declined to comment on the talks, which were first reported by Dow Jones and in The Wall Street Journal. The person familiar with the matter spoke to Reuters on condition of anonymity. Oil prices have slid by a third since June, eroding demand for drilling services and pummeling stock prices. Producers have pressured the services companies to slash prices, and a tie up between the No. 2 and No. 3 players in the industry might allow them to better weather the downturn. A potential merger would create a drilling, logistics
Talks of Halliburtons acquisition of Baker Hughes have been confirmed by BHI. Baker Hughes Confirms Preliminary Discussions with Halliburton By: PRNewswire HOUSTON, Nov. 13, 2014 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) today confirmed that it has engaged in preliminary discussions with Halliburton Company regarding a potential business combination transaction. These discussions may or may not lead to any transaction. Baker Hughes does not intend to comment further on market speculation or disclose any developments unless and until it otherwise deems further disclosure is appropriate or required. Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The companys 61,000 employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information on Baker Hughes, visit: www.bakerhughes.com. This news release
German industrial conglomerate could close deal with U.S. oilfield equipment maker as soon as Monday. Siemens near deal to buy Dresser-Rand: Sources By: Reuters The German industrial conglomerate Siemens AG is near an agreement to acquire U.S. oilfield equipment maker Dresser-Rand Group for all cash, people familiar with the matter said on Sunday. A deal for Dresser-Rand, which has a market capitalization of more than $6 billion, could come as soon as Monday, some of them said. Siemens is expected to pay low- to mid-$80s per share, the sources said, compared to Dresser-Rands Friday closing price of $79.91 which already had been boosted by takeover speculation in the past several days. Discussions between the two companies are continuing and could still fall apart, the sources cautioned, asking not to be named because the matter is not public. To read the rest of this article, visit CNBC.