GE And Wabtec Merger: Good News Already Priced In [Seeking Alpha]
Westinghouse Air Brake Technologies Corporation (WAB)
Last westinghouse air brake technologies corporation earnings: 2/18 06:58 am
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US:NYSE Investor Relations:
wabtec.com/investors
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Source: Seeking Alpha
Summary General Electric ( GE ) is making progress to reduce the complexity of the business and raise much needed cash in the process. The company announced that it is merging its transportation business with pure-play Wabtec ( WAB ) in order to create a giant in rail equipment, services, and software. The deal makes sense for both businesses, mainly as a quarter of a billion in synergies are being projected. I like the deal although much good news has already been priced in. While GE stresses the high price received for the assets, I fail to see how this helps GE to deleverage a great deal as much of the proceeds will directly go to GE shareholders who are granted a direct share in Wabtec, thereby not solving a lot of financial headaches for GE, despite a near three billion one-time payment. The Deal GE has reached an agreement to merge its transportation business with that of Wabtec, as it will hold 50.1% of the shares in the combined company, as well as recei
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WAB
Earnings
- 4/24/24 - Beat
WAB
Sec Filings
- 5/2/24 - Form 4
- 5/1/24 - Form 4
- 4/30/24 - Form 144
- WAB's page on the SEC website