Question: How many shares of wabtec will GE shareholders get?

Stated another way, for each approximately 186 shares of GE common stock held, a GE shareholder will receive one share of Wabtec common stock.

How much of Wabtec does GE own?

GE shareholders own about 24.3 percent of Wabtec on a fully diluted basis. The combined company, which is expected to have revenues of more than $8 billion in 2019, has approximately 27,000 employees in 50 countries. It is based in Wilmerding, Pennsylvania.

When did GE spin off Wabtec?

General Electric said on Monday it expects to close the merger of its transportation business with Wabtec on February 25 and set a record date for distribution of shares.

Does Wabtec have a dividend reinvestment plan?

Wabtec has a dividend reinvestment program in place for registered shareholders.

Does Wabtec own GE?

WILMERDING, PA, (Feb. 25, 2019) – Wabtec Corporation (NYSE: WAB) announced today it has completed its merger with GE Transportation, a former business unit of GE (NYSE: GE).

Will GE shareholders get wabtec stock?

The deal was agreed upon in May 2018. As per the terms of the transaction, GE distributed all 8.7 billion shares of common stock of Transportation Systems Holdings Inc. … Stated another way, for each approximately 186 shares of GE common stock held, a GE shareholder will receive one share of Wabtec common stock.

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Who is wabtec owned by?

Wabtec Corporation (derived from Westinghouse Air Brake Technologies Corporation) is an American company formed by the merger of the Westinghouse Air Brake Company (WABCO) and MotivePower Industries Corporation in 1999.

Wabtec.

Trade name Wabtec Corporation
Website wabteccorp.com

What do GE shareholders get for wabtec?

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.

What is wabtec a spinoff of?

BOSTON – February 25, 2019 – GE (NYSE: GE) announced today the completion of the spin-off and subsequent merger of its transportation business with Wabtec Corporation (NYSE:WAB).

Is wabtec spin-off taxable?

“Under this modified structure, the spin-off will be considered a taxable dividend for U.S. federal income tax purposes.”

Who holds GE’s?

Who owns GE stock? Like many large companies, General Electric is owned largely by institutional investors such as money managers and pension funds. Institutions held around 77% of GE’s shares this month, according to FactSet data, compared with 77% at Honeywell International Inc. and 80% at Raytheon Technologies Corp.

Will GE make a comeback?

With its strong leadership team, the firm is poised for a strong comeback. Second, it’s also worth taking a closer look at the improvements in GE’s balance sheet. … Sure, 2020 wasn’t a great year for GE stock. But given GE’s successes prior to the pandemic, I’m willing to bet that it is likely to rally strongly in 2021.

Does General Electric stock pay dividends?

GE pays a dividend of $0.25 per share. GE’s annual dividend yield is 0.24%. General Electric’s dividend is lower than the US Specialty Industrial Machinery industry average of 1.46%, and it is lower than the US market average of 4.33%.

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Does wabtec make locomotives?

Wabtec locomotives literally move the world with a comprehensive and integrated set of best-in-class products and technologies that deliver unmatched reliability and efficiency for customers across the globe. … Wabtec offers the world’s most comprehensive and competitive locomotive portfolio.

Who are wabtec competitors?

Wabtec’s top competitors include Caterpillar, Alstom, Amsted Industries and Knorr-Bremse. Westinghouse Air Brake (doing business as Wabtec Corporation) is a global provider of technology-based products and services primarily for the freight rail and passenger transit industries.