GE-Wabtec deal

[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.