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Siemens Chief Faces Heat on Deal

2015-01-26 05:17:09| Industrial Machines - Topix.net

At Siemens AG's annual general meeting in Munich on Tuesday, shareholders likely will grill Chief Executive Joe Kaeser over the price he agreed in September to pay for U.S. oil equipment maker Dresser-Rand Group Inc. Since Siemens announced the deal, valued at $7.6 billion including debt, many investors and analysts have argued Mr. Kaeser overpaid. The deal values Dresser at roughly 58 times the past year's per-share earnings.

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