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Wednesday, March 25, 2015

EU regulators suspend Siemens, Dresser-Rand deal probe, await data, (NYSE: DRC)

European Union antitrust regulators have suspended their investigation into Siemens' $7.6 billion bid for U.S. oilfield equipment maker Dresser-Rand Group while waiting for "important information" from the German company.The European Commission suspended its probe on March 19, a filing on its website showed on Wednesday."The clock was stopped because there is an important piece of information that the Commission has requested from the parties and has not been submitted yet," Commission spokesman Ricardo Cardoso said.Siemens said the delay would not affect the deal.

Dresser-Rand Group Inc. is a supplier of custom-engineered rotating equipment solutions for long-life, critical applications in the oil, gas, chemical, petrochemical, process, power generation, military and other industries worldwide. Shares of DRC fell by 0.06% or $-0.05/share to $79.35. In the past year, the shares have traded as low as $55.03 and as high as $82.95. On average, 905348 shares of DRC exchange hands on a given day and today's volume is recorded at 978467.