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BAROID CORPORATION AND DRESSER INDUSTRIES, INC. COMPLETE DUE DILIGENCE FOR ACQUISTION

 HOUSTON, Oct. 1 /PRNewswire/ -- Baroid Corporation (NYSE: BRC) and Dresser Industries, Inc. (NYSE: DI) have completed their due diligence for the previously announced acquisition of Baroid by Dresser. Under the merger agreement, signed Sept. 7, 1993, Baroid and Dresser had the right to conduct on-site facilities inspections and division operational and environmental due diligence on each other through Sept. 30, 1993. The due diligence period expired yesterday, and neither party exercised its right to terminate the merger agreement. Subject to approval by the stockholders of Baroid and Dresser and satisfaction of other conditions to closing, it is anticipated that the merger will be consummated in January, 1994.
 Baroid Corporation is a worldwide supplier of petroleum services and equipment.
 Dresser Industries, Inc. is a major global supplier of highly engineered products and services utilized in the hydrocarbon exploration, production, transmission and processing activities.
 -0- 10/1/93
 /CONTACT: Robert P. Wallace of Baroid Corporation, 713-987-5186/
 (BRC DI)


CO: Baroid Corporation; Dresser Industries, Inc. ST: Texas IN: OIL SU: TNM

SM -- NY006 -- 7603 10/01/93 07:00 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
Words:177
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