Dresser-Rand announces stockholder approval of merger agreement with Siemens
HOUSTON, Nov. 20, 2014 /PRNewswire/ -- Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") (NYSE: DRC), a global supplier of rotating equipment and aftermarket parts and services, announced today that, at a special meeting of stockholders held earlier today, its stockholders approved the adoption of the merger agreement with Siemens Energy, Inc. ("Siemens"), pursuant to which Dresser-Rand will be acquired by Siemens.
At the special meeting of stockholders, 98.9% of the votes cast were voted in favor of the adoption of the merger agreement. Shares representing 73.5% of Dresser-Rand's total outstanding shares of common stock as of the October 22, 2014 record date were represented in person or by proxy at the meeting. Dresser-Rand's stockholders also approved, on an advisory, non-binding basis, compensation that may become payable to named executive officers as a result of the merger.
