General Electric To Acquire Dresser For $3B

NEW YORK (AP) -- GE says it has signed a deal to buy Dresser Inc. for about $3 billion, its latest deal to grow its product offerings in gas and other energy markets.

General Electric Co. didn't say whether the deal's value includes the assumption of Dresser's debt, or provide further details.

Dresser's products include technologies for gas engines, control and relief valves, measurement, regulation and control systems for gas and fuel distribution.

Dresser is based in Addison, Texas. It had earnings of $318 million on revenue of $2 billion last year.

The deal requires regulatory approval.
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