Let's start by breaking out who will own what after the merger. Learn more about our culture, businesses, and life at GE. I am totally confused. 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. Change your elections by completing the form on your account statement and returning it to Broadridge. What's more, the deal has been structured in a tax-efficient manner. Microsoft is retiring and will no longer support Internet Explorer. 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. Substantial annual run-rate synergies of $250 million and a net present value of approximately. First, Wabtec's management estimates that the existing company currently trades on a 2019 EV-to-adjusted EBITDA multiple of 14, but the new Wabtec (which will roughly double in size) will trade on a 2019 EV-to-adjusted EBITDA multiple of just 9, after the tax benefits and synergies start to kick in. All statements, other than historical facts, including statements regarding the expected benefits of the transaction, including future financial and operating results, the tax consequences of the transaction, and the combined companys plans, objectives, expectations and intentions; legal, economic and regulatory conditions; and any assumptions underlying any of the foregoing, are forward-looking statements. Offering a suite of products to help unlock the full potential of additive manufacturing. How do I transfer my stock and retain as registered shares? There was no explanation as to why this was done. 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 . Please refer to page two of the Legal Transfer Form for additional document requirements based on your stock transferring situation. 30 Isabella Street 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.. As per the terms of the transaction, GE distributed all 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. In a nutshell, you could look at this deal as a kind of near-term "reward" for long-suffering GE shareholders, as GE's management is returning capital from GE Transportation via stock in the new Wabtec. All told, it looks like a good deal for Wabtec. 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. 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. Sign up for our newsletter and stay up to date with whats happening in Investor news. 773.297.0482, Wabtec Investor Contacts The dividend is payable January 25, 2022 to shareholders of record at the close of business on December 21, 2021. The company unveiled the Tier 4 locomotive a few years ago. Once you notify us of your certificate loss, we will initiate the process for you and then ask that you finalize the paperwork and submit the appropriate payment for processing. Specifically, GE modified the terms of its merger agreement with Wabtec Corporation ( WAB -0.23%) in order to raise more cash for the company, but it also reduced the amount of Wabtec GE. TRANSACTION DETAILS Learn more about our culture, businesses, and life at GE. For GE shareholders who received shares of Wabtec stock as part of the Wabtec- GET Merger, the cost basis in the Wabtec stock received is $78.06 per share, which was the closing price per share on February 25, 2019. What do GE shareholders get for Wabtec? Signature Guarantee Programs have been developed and eligible financial institutions which subscribe to such programs are issued "Medallion Guarantee Stamps". Create a leading equipment, aftermarket services, and digital solutions provider across the transportation ecosystem: From factory to final destination and every point in-between the combined company will have the capabilities to accelerate lifecycle solutions for the transportation industry and unlock significant productivity for customers by improving interoperability, efficiency, and competitiveness. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the transaction; (2) uncertainty of the expected financial performance of the combined company following completion of the transaction; (3) failure to realize the anticipated benefits of the transaction, including as a result of integrating GE Transportation into Wabtec; (4) the ability of the combined company to implement its business strategy; (5) difficulties and delays in achieving revenue and cost synergies of the combined company; (6) inability to retain and hire key personnel; (7) the risk that shareholder litigation in connection with the transaction or other settlements or investigations may result in significant costs of defense, indemnification and liability; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions, including the impacts of tax and tariff programs, industry consolidation, and changes in the financial condition or operating strategies of our customers; (10) changes in the expected timing of projects; (11) a decrease in freight or passenger rail traffic; (12) an increase in manufacturing costs; (13) actions by third parties, including government agencies; and (14) other risk factors as detailed from time to time in Wabtecs reports filed with the SEC, including Wabtecs annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. Accomplished leaders building GEs legacy. Investors and security holders will be able to obtain free copies of these materials and other documents filed with the SEC by GE, Wabtec and/or SpinCo through the website maintained by the SEC at www.sec.gov. If so, you may enroll in the plan in any of the following ways: Make the investment via your online account. The strategic combination of complementary portfolios is expected to: Create a leading equipment, aftermarket services and digital solutions provider across the transportation sector: The company can accelerate lifecycle solutions for the transportation industry and unlock significant productivity for customers by improving interoperability, efficiency and competitiveness. Learn More. These instructions should provide the name, address and social security number for each transferee and should indicate the number of shares to be transferred. Broadridge will send you the documents necessary to obtain replacement certificates along with instructions to complete them. Effective December 2, 2015, General Electric Capital Corporation (GECC) merged with and into GE (the "Merger") to assure compliance with debt covenants as GECC exits the assets planned for disposition. DRIPs offer shareholders the convenience of reinvesting dividends, minimizing the expense and effort associated with dividend checks. Access GEs recent and historic Annual Reports and accompanying materials. Begin typing your search term above and press enter to search. Split Adjustment 1. GE also received approximately $2.9 billion in cash at closing. GE Transportation All statements, other than historical facts, including statements regarding the expected timing and structure of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction, including future financial and operating results, the tax consequences of the proposed transaction, and the combined companys plans, objectives, expectations and intentions; legal, economic and regulatory conditions; and any assumptions underlying any of the foregoing, are forward-looking statements. lucrative business of locomotive upgrades. Joint Tenants with Rights of Survivorship, This registration is used when two or more individuals have equal claim to the shares. Note that sales are subject to a fee of $10 per transaction plus $0.15 per share sold. Wabtec pays a dividend 4 times a year. A custodial registration requires the names of the custodian and the beneficial owner. The company merged with GE Transportation on February 25, 2019. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. We will keep you updated if there is a change. Voices is a network for GEs US supporters interested in the companys impact in their communities and in issues that impact the company. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. For example: Mary Smith Cust Don Smith NY Unif Trans Min Act. 40.2% of the combined entity will go to GE shareholders and 9.9% retained by GE. This communication is for informational purposes only and not intended to and does not constitute an offer to subscribe for, buy or sell, the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell, any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. I'm looking for someone to tell me how! Has anyone found a cite for that? That's your selling price. Any forward-looking statements speak only as of the date of this communication. Has been since process revisions were improved, but so few taxable spinoffs come up, the language has not been a problem so far (that I have seen). 2023 Broadridge Financial Solutions, Inc. Stay up to date with the latest resources for the planned spin-offs. Wabtec expects to benefit from the cyclical tailwinds the industry saw in 2018, including volume growth of 38 million carloads and intermodal units. Creating the energy technologies of the future and improving the power networks that we depend on today. At Wabtec, we help our customers overcome their toughest challenges by delivering rail and industrial solutions that improve safety, efficiency and productivity. Wabtec Completes Successful Merger With GE Transportation Press Release (PDF). You will find the information under the "Dividend Payment Options" section of the website. The dividend calendar shows you for more than 1,000 dividend stocks in which month which company distributes its dividends. Upon closing, Wabtec shareholders will own approximately 49.9%, and it is planned that GE shareholders will own approximately 40.2%, and GE will own 9.9% of the merged company on a fully diluted basis. Here's the step by step, (having eliminated everything that was downloaded to you): Do you know why I would receive .395 shares on 3/1/19 after receiving 18 on 2/25/19? In connection with the proposed transaction between GE and Wabtec, Transportation Systems Holdings Inc., a wholly owned subsidiary of GE created for the transaction (SpinCo), will file with the SEC a registration statement on Form S-4/S-1 containing a prospectus or a registration statement on Form 10 and Wabtec will file with the SEC a registration statement on Form S-4 that will include a combined proxy statement/prospectus. The transaction is expected to be tax free to the companies' respective shareholders. GEs annual dividend yield is 0.42%. Discover how our people & technology are solving global issues, improving lives, and changing industries. Payment months are February, May, August, November. Wabtec shares rose 4.3 percent to $99.28. According to the earlier terms, General Electric's shareholders were to get 40.2% with 9.9% going to GE. As of this writing, there have been no discussion of index changes related to this transaction. Also, an audio replay of the call will be available by calling 412-317-0088 (passcode: 466#). 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. Explore a timeline of GE technologies that have spurred transformation across the world. Wabtec is a leading supplier of critical components, locomotives, services, signaling and logistics systems and services to the global rail industry. Any forward-looking statements speak only as of the date of this communication. That should wipe out the cash received in the dividend. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the relevant materials when filed with the SEC. 2023-03 GE SCF Investor Report (PDF, 180 KB), 2022-12 GE SCF Investor Report (PDF, 70 KB), 2022-09 GE SCF Investor Report (PDF, 71 KB), 2022-06 GE SCF Investor Report (PDF, 182KB), 2022-03 GE SCF Investor Report (PDF, 182KB), 2021-12 GE SCF Investor Report (PDF, 182KB), 2021-09 GE SCF Investor Report (PDF, 181KB), 2021-06 GE SCF Investor Report (PDF, 71KB), 2021-03 GE SCF Investor Report (PDF, 79KB), 2020-12 GE SCF Investor Report (PDF, 64KB), 2020-09 GE SCF Investor Report (PDF, 72KB), 2020-06 GE SCF Investor Report (PDF, 72KB), 2020-03 GE SCF Investor Report (PDF, 79KB), 2019-12 GE SCF Investor Report (PDF, 380KB), 2019-09 GE SCF Investor Report (PDF, 383KB), 2019-06 GE SCF Investor Report (PDF, 369KB), 2019-03 GE SCF Investor Report (PDF, 353KB), 2018-12 GE SCF Investor Report (PDF, 59KB), 2018-09 GE SCF Investor Report (PDF, 88KB), 2018-06 GE SCF Investor Report (PDF, 88KB), 2018-03 GE SCF Investor Report (PDF, 88KB), 2017-12 GE SCF Investor Report (PDF, 87KB), 2017-09 GE SCF Investor Report (PDF, 35KB), 2017-06 GE SCF Investor Report (PDF, 160KB), 2017-03 GE SCF Investor Report (PDF, 160KB), 2016-12 GE SCF Investor Report (PDF, 160KB), 2016-09 GE SCF Investor Report (PDF, 155KB), 2016-06 GE SCF Investor Report (PDF, 160KB), 2016-03 GE SCF Investor Report (PDF, 160KB), 2015-12 GE SCF Investor Report (PDF, 159KB), 2015-09 GE SCF Investor Report (PDF, 159KB), 2015-06 GE SCF Investor Report (PDF, 175KB), 2015-03 GE SCF Investor Report (PDF, 154KB), 2014-12 GE SCF Investor Report (PDF, 158KB), 2014-09 GE SCF Investor Report (PDF, 159KB), 2014-06 GE SCF Investor Report (PDF, 161KB), 2012-12 GE SCF Investor Report (PDF, 155.0KB), 2012-09 GE SCF Investor Report (PDF, 155.0KB), 2012-06 GE SCF Investor Report (PDF, 155.0KB), 2012-03 GE SCF Investor Report (PDF, 156.0KB), 2011-12 GE SCF Investor Report (PDF, 154KB), 2011-09 GE SCF Investor Report (PDF, 156.0KB), 2011-06 GE SCF Investor Report (PDF, 157.0KB), 2011-03 GE SCF Investor Report (PDF, 100.0KB), 2010-12 GE SCF Investor Report (PDF, 101.0KB), 2010-09 GE SCF Investor Report (PDF, 100.0KB), 2010-06 GE SCF Investor Report (PDF, 101.0KB), 2010-03 GE SCF Investor Report (PDF, 101.0KB), 2009-12 GE SCF Investor Report (PDF, 101.0KB), 2009-09 GE SCF Investor Report (PDF, 98.8KB), CAUTION CONCERNING FORWARD LOOKING STATEMENTS.
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