Siemens-Dresser Deal ‘May Not Be the End’ for Compressor M&A: CS
2014-09-22 14:41:43.947 GMT
By Rachel Layne
Sept. 22 (Bloomberg) -- Siemens-Dresser Rand deal “may not
be the end” for Sulzer, which confirmed it was looking at
Dresser-Rand amid potential compressor M&A, Credit Suisse
analyst Julian Mitchell writes in note.
* DOV looking to expand fluids division via M&A
* SPW may also be interested in tie-up
* DRC value at ~14.5x 2015 EV/Ebidta by SIE GR, making IR’s
ongoing acquisition of CAM “look cheap”
* Transactions mark ongoing consolidation period in which
private equity/LBOs have purchased Sundstrand, GDI
businesses after SPW “came close to a deal”
* NOTE: Earlier, Sulzer says DRC talks terminated,
concentrating on other opportunities; Baird says DRC
unlikely to get competing bid
* NOTE: SIE GR bid for DRC at 14x consensus Ebitda: Bloomberg
Intelligence
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To contact the reporter on this story:
Rachel Layne in Boston at +1-617-210-4634 or
rlayne@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
2014-09-22 14:41:43.947 GMT
By Rachel Layne
Sept. 22 (Bloomberg) -- Siemens-Dresser Rand deal “may not
be the end” for Sulzer, which confirmed it was looking at
Dresser-Rand amid potential compressor M&A, Credit Suisse
analyst Julian Mitchell writes in note.
* DOV looking to expand fluids division via M&A
* SPW may also be interested in tie-up
* DRC value at ~14.5x 2015 EV/Ebidta by SIE GR, making IR’s
ongoing acquisition of CAM “look cheap”
* Transactions mark ongoing consolidation period in which
private equity/LBOs have purchased Sundstrand, GDI
businesses after SPW “came close to a deal”
* NOTE: Earlier, Sulzer says DRC talks terminated,
concentrating on other opportunities; Baird says DRC
unlikely to get competing bid
* NOTE: SIE GR bid for DRC at 14x consensus Ebitda: Bloomberg
Intelligence
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Rachel Layne in Boston at +1-617-210-4634 or
rlayne@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net