The General Electric cost basis will not change and the Wabtec shares are considered covered shares with a cost basis of the closing price on February 25, 2019: $78.06.
COVID-19 GE is supporting the fight against COVID-19. Image source: Getty Images.In a nutshell, you could look at this deal as a kind of near-term "reward" for long-suffering GE shareholders, as GE's management is returning capital from GE Transportation via stock in the new Wabtec.As it stands, GE expects $6 billion to $7 billion in industrial FCF in 2018, which is intended to fund a $4.2 billion dividend payment.
“Fuel is the second largest operating cost for our customers, with North American Class 1 rai The GE and Wabtec teams worked hard to complete this deal, and I am excited by the opportunities ahead for Wabtec.”A culture of integrity, compliance, safety, and respect for human rights, while reducing our environmental footprint.Accomplished leaders building GE’s legacy.Explore GE’s recent and historic SEC filings.Under the previously disclosed terms of the transaction, GE distributed all 8.7 billion shares of common stock of Transportation Systems Holdings Inc. (“SpinCo”) with respect to the shares of GE common stock outstanding as of the close of business on February 14, 2019 by means of a pro rata distribution (the “Spin-off”), and SpinCo and a subsidiary of Wabtec then merged.GE's innovation engine where ideas become reality to create a better world and deliver differentiated tech across the company's industrial portfolio.Contact information for general inquiries and feedback.In the transaction, GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec non-voting convertible preferred stock that, together, represent an approximately 24.9% ownership interest in Wabtec.We’re continuing to do all we can to support our customers and employees during this unprecedented time. Let's start by breaking out who will own what after the merger. PITTSBURGH, July 27, 2020 — Wabtec Corporation’s (NYSE: WAB) Trip Optimizerä system surpassed a milestone as railroads utilized the energy management system to operate their trains for more than 500 million auto miles. However, GE is pre-funding its pension plan to the tune of $6 billion in 2018 by borrowing the same amount. The exchange ratio for the combined Spin-off/merger transaction is 0.005371, meaning participating GE shareholders will receive 0.005371 shares of Wabtec common stock for each outstanding share of GE common stock held. Although this figure is lower than the 5% many analysts assume for mergers, there are a couple of things to consider that suggest Wabtec is onto a good thing.Second, it's worth noting that Wabtec is merging with GE Transportation at a cyclical low point. We’re deeply proud of GE employees around the world rising to the challenge. Voices is a network for GE’s US supporters interested in the company’s impact in their communities and in issues that impact the company.Access important shareholder information.Learn more about our culture, businesses, and life at GE.Explore the latest stories, news, downloads, and press tools.Access GE’s recent and historic Annual Reports and accompanying materials.We build intelligent devices, data analytics, applications and services to enable healthcare practitioners to deliver care more efficiently and with better outcomes.GE Aviation is a world-leading provider of aircraft engines, systems and avionics.We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better.Creating the energy technologies of the future and improving the power networks that we depend on today.Commercializing GE’s technology and IP to accelerate growth and achieve market differentiation.Our technology, global network, and exceptional team is fueled by a mission—building a world that works.Tune in or catch up on GE’s latest investor events and reports.Learn how we’re delivering on our priorities.Get in touch and stay informed.At GE, we rise to the challenge of building a world that works.
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