GE TRANS­PORTA­TION TO MERGE WITH WABTEC

Business Today - - THE BUZZ -

In a bid to boost its strug­gling busi­nesses, GE is merg­ing its cen­tury-old lo­co­mo­tive op­er­a­tions GE Trans­porta­tion with Wabtec Cor­po­ra­tion in a deal val­ued at around $11.1 bil­lion. Wabtec is a global provider of rail­road equip­ment, sys­tems and ser­vices. GE will get $2.9 bil­lion in cash and post­merger, will own 50.1 per cent of the com­bined op­er­a­tions.

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