Comment on In $10B deal, Wabtec will merge into GE transportation division

In $10B deal, Wabtec will merge into GE transportation division

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.

 

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