General Electric in Talks to Merge Train-Engine Unit With Wabtec -- Reuters

General Electric Co. (GE) is in talks to merge its transportation unit, which builds train engines, with Wabtec (WAB), Reuters reported Sunday.

As reported in The Wall Street Journal, GE has been exploring options for the GE Transportation division as a major part of Chief Executive John Flannery's plans to sell more than $20 billion worth of assets in the next two years.

Although GE is one of the world's biggest makers of freight locomotives, the business is cyclical and has been suffering lately from slack demand.

At the company's annual meeting last month, Mr. Flannery told shareholders he was "keenly aware" of the pain caused by a dividend cut and the troubles of the past year, and said the best way to make amends was to "fix the business."

Full story: https://www.reuters.com/article/us-getransportation-m-a-wabtec-exclusive/exclusive-ge-nears-deal-to-merge-transportation-unit-with-wabtec-sources-idUSKCN1IL0OT

--Write to Barcelona editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

May 20, 2018 15:02 ET (19:02 GMT)

GE Aerospace (NYSE:GE)
Historical Stock Chart
From Apr 2024 to May 2024