General Electric announced on Wednesday that it would acquire privately held infrastructure and energy services company Dresser for $3 billion. The Associated Press reports the deal is a move by GE to expand its energy business and tap into the natural gas boom.
GE plans on combining Dresser with its GE Energy unit. The Fairfield, Conn.-based conglomerate, which overhauled its outside counsel roster three years ago, turned to a firm with long-standing ties to the company to advise on the Dresser acquisition.
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