Wabtec and GE Transportation will be combined in a transaction in which GE will (i) sell a portion of the assets of GE Transportation to Wabtec; (ii) complete the spin-off or split-off of a portion of GE Transportation to GE shareholders; and (iii) immediately thereafter merge GE Transportation with a wholly owned subsidiary of Wabtec. It is headquartered in Pittsburgh, Pennsylvania. Making the world smarter, happier, and richer. An analyst with a glass-half-full approach would see the deal as progress on GE's restructuring plans and note that the cash flow will give the company more leeway to restructure the power segment before a bounce-back in total FCF generation in 2019. Hope this helps. Payment months are February, May, August, November. General Electric Co. changed the structure of the planned spinoff of its transportation division by taking a larger stake in the new company rather than giving it to shareholders. 2023 Wabtec Corporation. Changing plan electionsYou may change your plan investment decisions by taking the following steps: Selling shares held in a planYou may sell shares held in a plan by taking one of the following steps: When will I receive my 1099?Form 1099s are typically mailed or sent electronically in January according to IRS guidelines. If you wish to move your shares from registered to beneficial ownership, Broadridge or your broker will help you do so. You can access your account information from our secure website by clicking on the Shareholder Login link, where you can view and manage the following: Use our Plan Wizard to make your initial investment. When does Wabtec pay dividends? The combined company has a multi-year backlog of more than $23 billion. On July 27, 2015, Wabtec announced that it plans to purchase 51% of Faiveley Transport's shares in a cash-and-stock deal valued . Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. As a result of an internal reorganization undertaken by General Electric Company, interest payments made after November 25, 2018 will be treated as U.S.-source interest for U.S. federal income tax purposes. Transforming how industry solves its toughest challenges by bringing simplicity, speed and scale to digital transformation. Furthermore, the transaction will facilitate a tax step-up with an NPV of approximately $1.1 billion of net tax benefit accruing to the combined company. GE Transportation has received $3.6 billion in orders in the last two quarters. I give up! lucrative business of locomotive upgrades. We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Second, it's worth noting that Wabtec is merging with GE Transportation at a cyclical low point. Historic cost basis in GE shares is unchanged and irrelevant to determining the Specifically, GE Transportation will be first distributed to GE shareholders in a "tax-free spin- or split-off; then immediately merged with Wabtec," according to the deal presentation.. The registered shareholder may be an individual, a trust, a broker, etc. Will GE shareholders get shares of Wabtec? TRANSACTION DETAILS When I sell or before? DSPP Some companies offer DSPPs, so please visit your online account to determine if a plan is available to you. Next Stop, Wabtec: GE Completes Spin-Off And Merger Of Its Wabtec pays a dividend 4 times a year. GE to merge transportation unit with Wabtec in $11.1 billion deal GE's Latest Move Just Made Its Stock More Appealing What do GE shareholders get for Wabtec? New and overhauled GE locomotives come laden with sensors monitoring between 50 and 250 parameters, including vibrations, engine temperature, voltage and pressure. Wabtec Corporation. Access GEs recent and historic Annual Reports and accompanying materials. . I don't know exactly what they are saying, but I think this has to be entered as a dividend (non-stock?). Will wait to see if it stays that way or if it changes again. If the transaction is effected via an exchange offer, GE will also file with the SEC a Schedule TO with respect thereto. Locomotive; Freight Car; Freight Services; Example: Mary Smith is preferred instead of M Smith. Wabtec brings to market a robust installed base of more than 23,000 locomotives globally, an expanded global reach, a strong mix of products and services, as well as enhanced capabilities to drive innovation faster in key growth areas. We use cookies to ensure that we give you the best experience on our website. We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better. Also, an audio replay of the call will be available by calling 412-317-0088 (passcode: 466#). Learn More. The combination will bring together two global leaders in rail equipment, services and software, combining GE Transportation, a global digital industrial leader and supplier to the rail, mining, marine, stationary power and drilling industries, with Wabtecs broad range of freight, transit and electronics solutions. Answers to popular and relevant inquiries. Specifically, GE Transportation will be first distributed to GE shareholders in a "tax-free spin- or split-off; then immediately merged with Wabtec," according to the deal presentation.
