offline
GE Restructures Wabtec Spinoff in Deal That Will Net It $3.4B in Cash
GE's plan to sell off its transportation division is expected to net the company $3.4 billion.
General Electric Co. (GE - Get Report) shares rose 4.3% by the close of trading Friday after the company announced that it was restructuring the planned spinoff of its transportation division.
GE announced last May that it will merge its transportation unit, which manufactures freight locomotives and has been under GE control for a century, with rival Wabtec Corp. (WAB - Get Report) in a deal valued at $11 billion.
The revised deal will give a majority stake in the new company to Wabtec shareholders (50.8%) while GE shareholders get 24.3% and GE gets 24.9% of the new company. Under the original deal, 49.9% of the company went to Wabtec shareholders with 40.2% going to GE shareholders and 9.9% going to GE.
...
https://www.thestreet.com/investing/ge-r...s-14845933
GE's plan to sell off its transportation division is expected to net the company $3.4 billion.
General Electric Co. (GE - Get Report) shares rose 4.3% by the close of trading Friday after the company announced that it was restructuring the planned spinoff of its transportation division.
GE announced last May that it will merge its transportation unit, which manufactures freight locomotives and has been under GE control for a century, with rival Wabtec Corp. (WAB - Get Report) in a deal valued at $11 billion.
The revised deal will give a majority stake in the new company to Wabtec shareholders (50.8%) while GE shareholders get 24.3% and GE gets 24.9% of the new company. Under the original deal, 49.9% of the company went to Wabtec shareholders with 40.2% going to GE shareholders and 9.9% going to GE.
...
https://www.thestreet.com/investing/ge-r...s-14845933
__________________
