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General Electric merges transportation unit with Wabtec in $11.1 billion deal

Staff Writer | May 21, 2018
General Electric confirmed it will merge its transportation business that makes train engines with Wabtec in a deal valued at about $11.1 billion.
General Electric
Merger   GE confirmed
GE and its shareholders will own 50.1 percent of the combined company, while Wabtec shareholders will own the rest, the companies said in a statement.

Reuters reported on Sunday that a deal valuing the combined business at more than $20 billion could be announced this week.