YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
General Electric Co. penned a deal worth $11.1 billion to merge its locomotive business with rail-equipment maker Wabtec Corp.
GE will receive $2.9 billion in cash and take a 50.1 percent stake in the combined company.
Wabtec shareholders will hold the rest of the combined firm after the deal's expected closure early next year.
Read more from Bloomberg.
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