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New frontiers, old mistakes

22 September 2014 By Olaf Storbeck

The German engineer will pay a hefty $7.6 bln for Dresser-Rand, a U.S. maker of oilfield kit. This trumps Dresser’s possible merger with Sulzer of Switzerland and should stop a GE counterbid. But Siemens risks destroying value by joining a bandwagon late, as it did in solar.

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