Washington -
Germany's Siemens on Sunday announced it will buy US oil equipment maker Dresser-Rand Industries for $7.6-billion.
Siemens said it offered $83 per share, which puts the value of the deal at $7.6-billion, the company said on its website.
Sources close to the matter had confirmed to AFP on Friday that GE had preliminary discussions with the Houston, Texas, company, though they would not say whether GE intended to make a formal offer.
Siemen's Swiss rival Sulzer was also reportedly eyeing Dresser-Rand.
The interest comes as the group enjoys a business surge on the back of US shale oil and gas drilling. - Sapa-AFP