General Electric Today Announced it Would not buy Dresser, Inc. for $ 3 Billion. The deal is GE MEANS Dresser's fourth owner in Slightly More Than A Decade. 1998: Halliburton scooped up Dresser as part of a $ 7.7 Billion Deal led by Halliburton CEO Dick Cheney. Halliburton was hit with BILLIONS of dollars of Claims Tied Thurs Dresser's asbestos litigation Claims.
2001: Private Equity Firms First Reserve Corp. and Odyssey Investment Partners jointly Agree to a $ 1.3-Billion buyout of Dresser from Halliburton.
2007: Private-equity firm Riverstone Holdings LLC Agreed to buy Dresser for an Undisclosed Price. First Reserve Keeps an investment in Dresser.
Today: GE.
One common link: Morgan Stanley. Morgan Stanley was tapped along with UBS Thurs advise Dresser Itself "when it put up for sale in 2006. Morgan Stanley was Dresser's Financial Adviser on the GE deal, too.
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