FRANKFURT (Reuters) - General Electric Co (>> General Electric Company) and Germany's Siemens (>> Siemens AG) are considering bids for compressor and turbine maker Dresser-Rand (>> Dresser-Rand Group Inc.) that could derail a merger between Dresser-Rand and Swiss pump maker Sulzer (>> Sulzer AG), according to media reports.

The Financial Times and Bloomberg reported that Siemens' supervisory board may vote on whether to table a bid at a meeting next week, with Bloomberg citing an offer of more than $85 a share. (http://bloom.bg/XtD1jq)

General Electric, which has been in talks with Dresser-Rand, is also considering whether to make a bid, people familiar with the matter told the Financial Times. (http://on.ft.com/1tzUwLM)

Siemens and General Electric declined to comment.

Sulzer's biggest shareholder, Russian billionaire Viktor Vekselberg's Renova Group, said in a statement on Friday it held a 4.99 percent stake in Dresser-Rand. It said it did not intend to comment further.

Shares in Sulzer, whose chairman is former Siemens Chief Executive Peter Loescher, closed down 4.3 percent on fears that a move from Siemens could derail its plans for a merger with Dresser-Rand.

Asked about a potential Siemens bid for Dresser, a Sulzer spokeswoman said: "This isn't something we would like to comment on. As we have said before we are in non-exclusive negotiations (with Dresser-Rand). This means that for both parties other options are not excluded."

Germany's Manager Magazin first reported on Friday that Siemens could offer more than $6.1 billion (3.74 billion pounds), or $80 per share, for Dresser-Rand.

Dresser-Rand has been rumoured as a takeover target for large industrial companies such as Siemens in recent months.

While Siemens has been working with advisers to assess a potential bid for years, it has not made a takeover offer for the company, people familiar with the matter said.

Sulzer, and other suppliers of pumps and valves for mining, oil and construction firms, are considered ripe for consolidation. Scotland's Weir Group (>> The Weir Group PLC), for example, tried to buy rival Metso (>> Metso Oyj) but the deal fell apart over price.

A merger with Sulzer would combine Dresser-Rand's compressors and turbines serving the oil and gas industry with Sulzer's industrial pumps, giving the enlarged group a bigger footprint at a time when a North American drilling boom is boosting demand for energy services and equipment.

Dresser-Rand shares closed 9.5 percent higher at $79.91 on the New York Stock Exchange on Friday. The stock has risen 18 percent in the last three trading sessions after Sulzer said it was in talks to buy the company.

(Reporting by Georgina Prodhan. Additional reporting by Oliver Hirt and Silke Koltrowitz in Zurich and Mridhula Raghavan in Bangalore; Editing by Mark Potter and Susan Thomas)