Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. This is a once-in-a-lifetime opportunity to bring together nearly four centuries of collective experience to create a technologically advanced leader with a highly complementary set of capabilities to move and improve the world. https://www.sec.gov/Archives/edgar/data/943452/000114036119001550/s002443x10_s4a.htm, https://www.quicken.com/support/how-do-i-record-corporate-spin-new-securities, https://www.sec.gov/Archives/edgar/data/40545/000119312518172907/d591170d8k.htm, https://globenewswire.com/news-release/2019/01/25/1705540/0/en/Wabtec-and-GE-Modify-Terms-of-Transaction-Expect-to-Close-By-End-of-February-2019.html, Div from GE @ $0.397239/GE share (0.005371 * 73.96), Buy (0.005371 * GE Share Quantity) shares of Wabtec for that whole dividend amount. GEs transfer agent, EQ Shareowner Services, sponsors and administers a Shareowner Services Plus Plan that provides methods of purchasing, holding and selling shares in GE stock. Pittsburgh, PA 15212 - USA I received the following email from GE Investor Relations. Explore the latest stories, news, downloads, and press tools. However, the company will not receive the tax benefit possible if it had less than 50% and GE held on to . Will wait to see if it stays that way or if it changes again. Investor FAQs | Wabtec Corporation Following the completion of the transaction, Wabtecs corporate headquarters will remain in Wilmerding, Pa. Wabtecs Freight Segment will be headquartered in Chicago, and Wabtecs Transit Segment headquarters will remain in Paris. According to the Association of American Railroads, automation will help improve network velocity and fluidity, potentially saving railroads billions of dollars annually. This registration gives sole ownership to the single individual and requires that the person's legal name be used. That means a shareholder with 10,000 GE shares will walk away with only 54 shares of WAB along with a little cash. Drive increased value for shareholders: Investors are expected to benefit from ownership of a stronger, more diverse business better positioned to perform through the cycle, with expanded margins, expected average double-digit EPS growth and synergies of about $250 million. How do I know which date 2/25 or 2/26 and if to use the Close or High & Low divided by 2? DSPP Some companies offer DSPPs, so please visit your online account to determine if a plan is available to you. GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. If you continue to use this site we will assume that you are happy with it. The GE Transportation business is positioned for a significant rebound, with estimated adjusted EBITDA growing from about $750 million in 2018 to between $900 million and $1 billion in 2019. Following the completion of the transaction, Stphane Rambaud-Measson will become president and CEO of Wabtecs Transit Segment; and Rafael Santana, president and CEO of GE Transportation, will become president and CEO of Wabtecs Freight Segment. WAB ranks lowest in Sentiment; there it ranks in the 29th percentile. Why Shares in General Electric Crushed the Market in March, Why Shares in General Electric Beat the Market Today. An analyst with a more pessimistic approach would worry about continued deterioration in the power segment and therefore see the cash from Wabtec as small potatoes compared to what GE could need to realize its restructuring plans while maintaining its current dividend. I am certainly no expert in how index membership decisions are made, but its worth watching. The recent restructuring of the deal provides GE with more cash, but it also left GE as the minority owner of the combined entity. All Rights Reserved. The deal to merge GE transportation withWestinghouse Air Brake Technologies(WAB -0.07%), or Wabtec, is somewhat complicated but, in general, can be seen as a near-term positive for shareholders. The Motley Fool has a disclosure policy. 412.825.1543, Matt Cribbins, GEmatthewg [dot] cribbins [at] ge [dot] com Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. It's one of the oldest and most widely used money market instruments in the U.S. and in markets around the world. Accomplished leaders building GEs legacy. If the transaction is effected via an exchange offer, GE will also file with the SEC a Schedule TO with respect thereto. With this transaction, GE sold a portion of GE Transportation assets to Wabtec, spun off a portion of GE Transportation to GE shareholders and then GE Transportation merged with a wholly owned subsidiary of Wabtec. Certificates will not be issued for shares held in a plan. 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. The broker will then have the shares transferred from Broadridge to your brokerage account. Thank you. Sell any fractional share for whatever cash-in-lieu amount received. GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. How should shares for transfer be mailed to Broadridge? Commercializing GEs technology and IP to accelerate growth and achieve market differentiation. The companys culture and experienced global workforce will leverage the common values of innovation, collaboration, inclusiveness, and Lean and continuous improvement, to help solve its customers toughest challenges. If you want to sell your shares of GE stock, please contact GEs current transfer agent, Equiniti Trust Company (EQ). I couldnt find it on the web. Under the agreement, which has been approved by the Boards of Directors of Wabtec and GE, GE will receive $2.9 billion in cash at closing and GE and its shareholders will receive a 50.1% ownership interest in the combined company, with Wabtec shareholders retaining 49.9% of the combined company. To exchange your physical GE share certificates for a statement of holdings in book-entry form, please contact GE's transfer agent, Equiniti Trust Company, to begin the process. 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.