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Friday, Sep 6
Bloomberg: GE may target Dresser-Rand, Dril-Quip in energy push
- GE's growing interest in oil and gas assets and a decade-high $19.3B cash stockpile are turning Dresser-Rand (DRC) and Dril-Quip (DRQ) into potential takeover targets, analysts say.
- DRQ is projected to boost sales by 63% in the next three years, faster than all but two similar-sized U.S. peers, and analysts see DRC expanding 51%, according to data compiled by Bloomberg.
- DRQ, with visible multi-year growth in front of it, "is always at the top of the list of companies that are talked about as a consolidation target,” a Lazard Capital analyst says, but a deal with GE might be viewed by regulators as anti-competitive.