General Electric merges transportation unit with Wabtec in $11.1 billion deal
Updated : May 21, 2018 05:42 PM IST
GE will receive a $2.9 billion up-front payment in cash and its shareholders will own 50.1% of the combined company, while Wabtec shareholders will own the rest.
Wabtec chief executive Raymond T. Betler will remain president and CEO of the merged company while its Chairman, Albert J. Neupaver has been re-appointed executive chairman.
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