In $10b Deal, Wabtec Will Merge Into Ge Transportation Division

Paul J. Gough, Biz Journals
Mon, 05/21/2018 - 4:47am

Wabtec Corp., the Wilmerding-based rail products manufacturer, will merge with the transportation division of General Electric in a deal worth $10 billion. The transaction announced Monday calls for GE (NYSE: GE) to receive $2.9 billion in cash, plus GE and its shareholders will have 50.1 percent ownership in the company. Wabtec shareholders will have 49.9 percent ownership.

Topics: corp wilmerding-based general electric ge nyse wabtec executive chairman albert j neupaver ge deal merge transportation division shareholders billion percent ownership

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In $10b Deal, Wabtec Will Merge Into Ge Transportation Division

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