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GE is merging its transportation business with Wabtec in an $11.1 billion deal
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General Electric's transportation business will merge with Wabtec in an $11.1 billion deal.
GE shareholders will own 50.1% of the combined company.
- General Electric Co confirmed on Monday it will merge its transportation business that makes train engines with Wabtec Corp, a U.S. manufacturer of equipment for the rail industry, in a deal valued at about $11.1 billion.
GE and its shareholders will own 50.1 percent of the combined company, while Wabtec shareholders will own the rest, the companies said in a statement. See the rest of the story at Business Insider NOW...
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