GE TRANSPORTATION TO MERGE WITH WABTEC

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.