GE-Wabtec deal

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Baldy's Boss
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GE-Wabtec deal

Post by Baldy's Boss »

General Electric has announced a plan to transfer the bulk of its GE Transportation segment to Wabtec (the successor to the transportation segments of Westinghouse and Morrison-Knudsen,along with other acquisitions) in return for $2,900,000,000 and about half the merged company's stock.The new company will have a Chicago-based "Freight Segment" headed by the current GE Transportation boss and a Paris-based "Transit Segment",both under corporate headquarters in Pennsylvania.
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