Wabtec shares are traded on the New York Stock Exchange under the symbol "WAB." Get this delivered to your inbox, and more info about our products and services.GE announced last year that it would merge its transportation business with U.S. rail equipment manufacturer Wabtec in a more than $11 billion deal, leaving GE and its shareholders with just under half of the combined business.Got a confidential news tip? Wabtec and its affiliates do not provide tax, legal or accounting advice. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGE said on Monday it would distribute 8.7 billion shares to shareholders on Feb. 14. Investors and security holders will also be able to obtain free copies of the documents filed by GE, Wabtec and/or SpinCo with the SEC from the respective companies by directing a …
Global Business and Financial News, Stock Quotes, and Market Data and Analysis. GE shareholders will see small amounts of Wabtec in their portfolios. Wabtec shareholders own approximately 50.8% of Wabtec on a fully diluted basis and GE shareholders own approximately 24.3% of Wabtec on a fully diluted basis. I am totally confused. We’re deeply proud of GE employees around the world rising to the challenge.“This transaction is good for GE shareholders, who gain equity in an organization at the forefront of rail innovation; for GE, as we work to reduce leverage and strengthen our balance sheet; and for Wabtec, which now has a stronger and more diversified business mix to serve its customers,” said GE Chairman and CEO H. Lawrence Culp Jr. “The GE and Wabtec teams worked hard to complete this deal, and I am excited by the opportunities ahead for Wabtec.”The combined company, which is expected to have revenues of more than $8 billion in 2019, has approximately 27,000 employees in 50 countries. On 2/25/19 GE spun off its transportation business to Wabtec, producing .005371 share of Wabtec for each share of GE. GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. Explore a career with us.Discover how our people & technology are solving global issues, improving lives, and changing industries.Explore the latest stories, news, downloads, and press tools.Read the latest GE financial news releases and stories.GE Aviation is a world-leading provider of aircraft engines, systems and avionics.Explore a timeline of GE technologies that have spurred transformation across the world.We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better.Access GE’s recent and historic Annual Reports and accompanying materials.Raymond T. Betler, Wabtec’s president and CEO, said the deal was “a once-in-a-lifetime opportunity to bring together nearly four centuries of collective experience to create a technologically advanced leader with a highly complementary set of capabilities to move and improve the world.”Learn how we’re delivering on our priorities.GE announced today that it has completed the spinoff and merger of its Transportation business with Wabtec Corporation. In the transaction, GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec non-voting convertible preferred stock that, together, represent an approximately 24.9% ownership interest in Wabtec. GE (GE) is set to close the restructured merger agreement for its transportation business with Wabtec (WAB) on February 25th.
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