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).
Source: www.genewsroom.com
General Electric Co. (NYSE: GE) has completed the spin-off and subsequent merger of its transportation business with Wabtec Corp. (NYSE: WAB), which was announced in May 2018. As per the terms of the transaction, General Electric distributed 8.7 billion shares of common stock of Transportation Systems Holdings Inc. 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, to complete the merger. 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.
