how many shares of wabtec will ge shareholders get

GE owns common stock and non-voting convertible preferred stock, which together represent approximately a 24.9% economic interest in Wabtec on a fully diluted basis. 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. This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents GE, Wabtec and/or SpinCo may file with the SEC in connection with the proposed transaction. Please refer to page two of the Legal Transfer Form for additional document requirements based on your stock transferring situation. I believe the answer is that the entire value of the distribution is taxed now, that that value becomes the tax basis of the Wabtec shares, and that your GE tax basis is reduced by that amount. DRIPs offer shareholders the convenience of reinvesting dividends, minimizing the expense and effort associated with dividend checks. Wabtec's management certainly thinks it got a great deal. If you hold them directly, you should receive them that way. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. Betler said: Wabtec and GE Transportation are global industry leaders and we believe that together we have a unique opportunity to drive tremendous growth in 2019 and beyond as the industry continues to improve. Fax: 412-825-1019. Is Renewable Energy the Key to General Electric's Future? Wabtec Chairman, Albert J. Neupaver, has been re-appointed executive chairman; Raymond T. Betler will remain president and CEO of the merged company; Rafael Santana, president and CEO of GE Transportation, will become president and CEO of Wabtecs Freight Segment and Stphane Rambaud-Measson, will become president and CEO of Wabtecs Transit Segment. In some cases additional documents will be required to complete the transfer. Accomplished leaders building GEs legacy. Wabtec does not undertake any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Contact information for general inquiries and feedback. GE, Wabtec, SpinCo, their respective directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from shareholders of Wabtec in connection with the proposed transaction. Wabtec Corporation is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. What are "street name shares" or "beneficial shares"? Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. You will find the information under the "Dividend Payment Options" section of the website. The use of a first name is desirable. Note that all shares held in a plan will be in DRS (book-entry) form. Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. New and overhauled GE locomotives come laden with sensors monitoring between 50 and 250 parameters, including vibrations, engine temperature, voltage and pressure. Caution Concerning Forward-Looking Statements A custodial registration requires the names of the custodian and the beneficial owner. Deia Campanellideia [dot] campanelli [at] wabtec [dot] comclass="spamspan" Wabtec Corporation. You can also buy GE stock through brokerage firms that act as a facilitator between individual investors and GE. Investors will be required to go to the state to reacquire them, but if the state has sold their shares, they will have lost all dividends and any increase in value. A custodial registration for a minor is a common form of this registration type. When does Wabtec pay dividends? There are several custodial registrations possible. The company also builds new switcher and commuter locomotives, and provides aftermarket services. Tim WesleyTwesley [at] Wabtec [dot] comclass="spamspan" Morgan Stanley & Co. LLC and Dyal Co. LLC are acting as financial advisors, and Davis Polk & Wardwell LLP as legal advisors, to GE in the transaction. Transfer shares to your broker via the transfer process (see FAQ "Ownership Questions"). The deal is tax-free for GE and Wabtec shareholders because it is structured as a so-called Reverse Morris Trust . 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.. Please select the GE business(es) of most interest to you: GE's Investor Relations website at www.ge.com/investor-relations and our corporate blog at ge.com/reports as well as GE's social media accounts, contain a significant amount of information about GE, including financial and other information for investors. Moreover, under the modified structure Wabtec will issue 3.3 million fewer shares than . $78.06, establishes the shareowners cost basis in Wabtec shares going forward. Generate growth opportunities through the extensive installed base and attractive global footprint: The combined company will be a leading global freight and transit rail provider with more than 23,000 locomotives in its global installed base and content on virtually all locomotives and freight cars in North America, creating significant opportunities for aftermarket parts and services in key regions around the world. What do GE shareholders get for Wabtec? The influx of $2.9 billion in cash from Wabtec won't impress the bears much. The combined company, which is expected to have revenues of more than $8 billion in 2019, has approximately 27,000 employees in 50 countries. Certificates will not be issued for shares held in a plan. Combining GE Transportations constant monitoring of messages from 17,000 locomotives with monitoring of Wabtecs passenger and shunter locomotives can make for a smarter, more efficient and safer transportation system. I couldnt find it on the web. 30 Isabella Street *Average returns of all recommendations since inception. Equiniti Trust Company (EQ) transfer agent and registrar for GE. In short, GE needs cash, and many investors may have preferred a deal with a higher cash component rather than the one outlined above. At GE, we are committed to building a more diverse workforce and a more inclusive workplace. The foregoing list of important factors is not exclusive. Normally a corporation will have documentation on their website with a basic formulas to calculate the subsequent tax basis. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. It is suggested that the shipment be insured for 2% of the current value of the shares. Some plans do require that investors own a minimum number of shares prior to participating in a plan. Wabtec is currently in the S&P Midcap 400 index, but its current pre-merger market cap is already above many S&P 500 constituents. Any forward-looking statements speak only as of the date of this communication. DSPPs offer investors the opportunity to buy shares directly from the corporation, via the transfer agent, often without involving a broker. If you hold certificates that you wish to transfer, please follow the steps below: Broadridge Corporate Issuer SolutionsP.O. 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. GE owns common stock and non-voting convertible preferred stock, which together represent approximately a 24.9% economic interest in Wabtec on a fully diluted basis. These documents can be obtained free of charge from the sources indicated above. Offering a suite of products to help unlock the full potential of additive manufacturing. (RTTNews) - General Electric Co. (GE) on Monday announced the completion of the spin-off and subsequent merger of its transportation business with Wabtec Corp. It's too early to tell right now, but what's undeniable is that the GE-Wabtec deal marks progress on GE management's strategic aims, and that can't be seen as anything but a plus. If you do not have this information, you should call our Lost Securities Department at the 800 number on this site. As you can see below, existing shareholders will be rewarded with stock, as well as future cash flow and dividends from the new Wabtec. What are analysts forecasts for Wabtec stock? You can also listen to the webcast by going to Wabtecs new website at www.WabtecCorp.com and clicking on Events & Presentations in the Investor Relations section. Were continuing to do all we can to support our customers and employees during this unprecedented time. Example: Mary Smith & Barbara Smith Jt Ten, This registration allows an appropriate portion of the shares to pass to the estate of the holder upon the holder's death rather than to the surviving tenant. Overview of General Electric Capital Corporation merger with and into GE. On May 21, 2018, GE and Wabtec confirmed the merger of GE Transportation with Wabtec in an $11 billion deal, completed on February 25, 2019, that saw Wabtec shareholders take a 50.8% shareholding in the merged . 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. The 2019 EBITDA multiple range including synergies and tax benefits is approximately 9x, and the 2019 EBITDA multiple range excluding synergies and tax benefits is approximately 11.75x. How do I know which date 2/25 or 2/26 and if to use the Close or High & Low divided by 2? Note that the in-product QWin 2019 Help for a taxable spin-off would have you enter a Misc Income for the dollar value of the spin-off and an Add rather then Buy for the new shares. Information regarding the directors and executive officers of GE is contained in GEs proxy statement for its 2018 annual meeting of stockholders, filed with the SEC on March 23, 2018, its Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on February 23, 2018, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, which was filed with the SEC on May 1, 2018 and certain of its Current Reports filed on Form 8-K. Information regarding the directors and executive officers of Wabtec is contained in Wabtecs proxy statement for its 2018 annual meeting of stockholders, filed with the SEC on April 5, 2018, its Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on February 26, 2018, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 which was filed with the SEC on May 4, 2018 and certain of its Current Reports filed on Form 8-K. Access GEs recent and historic Annual Reports and accompanying materials. If so, you may enroll in the plan in any of the following ways: Make the investment via your online account. In the transaction, GE received about $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec non-voting convertible preferred stock that, together, represent an. The broker will then have the shares transferred from Broadridge to your brokerage account. GE also received approximately $2.9 billion in cash at closing. Summary. We're focused on driving ongoing safety, innovation, efficiency, reliability, and productivity. GE Transportation has a backlog of roughly $18 billion, including approximately 1,800 new locomotives and roughly 1,000 locomotive modernized units. GE announced today that it has completed the spinoff and merger of its Transportation business with Wabtec Corporation. The freight portfolio features a comprehensive line of locomotives, software applications and a broad selection of mission-critical controls systems, including Positive Train Control (PTC). GE Transportation This communication is not a solicitation of a proxy from any investor or security holder. I did review the discussion but it didn't help! GE Transportation helps move the world and improve the world, as a global technology leader and supplier of equipment, services and digital solutions to the rail, mining, marine, stationary power and drilling industries. By bringing together our highly complementary strengths we are confident that this transformational combination will create value for both Wabtec and GE shareholders, innovative solutions for our customers, and new outlets for long-term career growth for our employees. Improve utilization and accelerate path to automation: The seamless combination of GE Transportations digital solutions and analytics systems with Wabtecs electronic systems and Positive Train Control (PTC) capabilities, is expected to improve safety, efficiency and productivity across the transportation industry and accelerate railroads path to advanced train automation. Current Shares. Access the latest press releases, media contacts, and press tools. At GE, we rise to the challenge of building a world that works. The recent restructuring of the deal provides GE with more cash, but it also left GE as the minority owner of the combined entity. EQ Shareowner Services is GEs transfer agent and administers all matters related to stock that is directly registered with GE. Include any additional instructions indicating how you wish the shares to be transferred. So if you are a GE shareholder, you should have a keen interest in the rationale for the deal because you will be owning stock in Wabtec.`. Wabtec and GE shareholders will have ownership in a combined company with significantly expanded margins, a highly attractive growth profile based on an improved business mix, expanded global reach, and faster innovation in key growth areas. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words may, will, should, potential, intend, expect, endeavor, seek, anticipate, estimate, overestimate, underestimate, believe, could, project, predict, continue, target or other similar words or expressions. All Rights Reserved. GE has the right to increase the portion of the merged company owned by GE shareholders (subject to a corresponding reduction in GE's ownership). GE Transportations innovations help customers deliver goods and services with greater speed and savings using advanced manufacturing techniques and connected machines. General Electric Is Getting Ready to Fire On all Cylinders, Why General Electric Stock Aced an 8% Gain Thursday, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Why I Refuse to Chase the Maximum Social Security Benefit, Social Security Cuts May Be Coming.

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