GE's transportation unit merging with Wabtec in deal valued at $11.1 billion [MarketWatch]
Westinghouse Air Brake Technologies Corporation (WAB)
Last westinghouse air brake technologies corporation earnings: 2/18 06:58 am
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Source: MarketWatch
GE's transportation unit to merge with Wabtec in a deal valued at $11.1 billion Shares of General Electric Co. GE, -0.40% surged 2.0% in premarket trade Monday, after the industrial conglomerate agreed to merge its GE Transportation unit with rail operator Wabtec Corp. WAB, +1.10% in a deal valued at $11.1 billion. Wabtec's stock was indicated up over 1%. Under terms of the deal, GE will receive $2.9 billion in cash at closing, and its shareholders will received a 50.1% ownership interest in the combined company. As part of the deal, GE will sell a portion of GE Transportation to Wabtec, complete the spin-off of a portion of GE Transportation to GE shareholders, then merge GE Transportation with a wholly owned subsidiary of Wabtec. Once closed, GE shareholders will own 40.2% and GE will own 9.9% of the merged company. over the weekend, Reuters had reported that GE was close to a deal to sell GE Transportation in a deal that could be valued at more than $20 billion. GE's stock ha
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WAB
Earnings
- 4/24/24 - Beat
WAB
Sec Filings
- 4/24/24 - Form 10-Q
- 4/24/24 - Form 8-K
- 4/4/24 - Form ARS
- WAB's page on the SEC website