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Posts published in “Day: May 21, 2018”

GE to merge its transportation unit with rail equipment maker WabtecGE to merge its transportation unit with rail equipment maker Wabtec

GE to merge its transportation unit with rail equipment maker Wabtec

By Railroad Worker News on May 21, 2018

General Electric confirmed it will merge its transportation business with Wabtec, a U.S. manufacturer of equipment for the rail industry, in a deal valued at about $11.1 billion. GE and its shareholders will own 50.1 percent of the combined company, while Wabtec shareholders will own the rest, the companies said in a statement. Pared back…

UPDATE 3-GE to merge transportation unit with Wabtec in $11.1 bln dealUPDATE 3-GE to merge transportation unit with Wabtec in $11.1 bln deal

UPDATE 3-GE to merge transportation unit with Wabtec in $11.1 bln deal

By Railroad Worker News on May 21, 2018

* Unloads parts of transportations unit in $11.1 bln deal * GE to receive $2.9 bln cash upfront * Resulting company to generate $8 bln in revenues * GE, shareholders to have 50.1 pct stake in merged firm (Adds details on the deal, Breakingviews link, updates shares) May 21 (Reuters) - General Electric Co announced…