Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
GE to Merge Rail Division With Wabtec in $11 Billion Deal
Hat tip, Trainorders: Eastern Railroad Discussion > GE Transportation Division to Merge with Wabtec
BUSINESS
GE to Merge Rail Division With Wabtec in $11 Billion Deal
Deal is the first major portfolio move in new GE CEO John Flannery’s attempt to revamp the struggling conglomerate
By Thomas Gryta
https://twitter.com/tgryta
[email protected]
Updated May 21, 2018 8:36 a.m. ET
General Electric Co. agreed to merge its railroad business with Wabtec Corp. in a deal valued at about $11 billion, letting GE raise some cash to fund its turnaround and shed one of its oldest operations.
The transaction is the first major portfolio move in new GE Chief Executive John Flannery’s attempt to revamp the struggling conglomerate. Wabtec, formerly known as Westinghouse Air Brake Technologies Corp., makes equipment for transit systems and freight railroads and has a market value of about $9 billion, based on Friday’s...
TO READ THE FULL STORY
SUBSCRIBE
SIGN IN
GE to Merge Rail Division With Wabtec in $11 Billion Deal
Deal is the first major portfolio move in new GE CEO John Flannery’s attempt to revamp the struggling conglomerate
By Thomas Gryta
https://twitter.com/tgryta
[email protected]
Updated May 21, 2018 8:36 a.m. ET
General Electric Co. agreed to merge its railroad business with Wabtec Corp. in a deal valued at about $11 billion, letting GE raise some cash to fund its turnaround and shed one of its oldest operations.
The transaction is the first major portfolio move in new GE Chief Executive John Flannery’s attempt to revamp the struggling conglomerate. Wabtec, formerly known as Westinghouse Air Brake Technologies Corp., makes equipment for transit systems and freight railroads and has a market value of about $9 billion, based on Friday’s...
TO READ THE FULL STORY
SUBSCRIBE
SIGN IN
