how many shares of wabtec will ge shareholders get

GENERAL ELECTRICs dividend is lower than the US industry average of 1.84%, and it is lower than the US market average of 3.4%. If so, you may enroll in the plan in any of the following ways: Make the investment via your online account. Upon completion of the merger, GE shareholders are expected to collectively own approximately 24.3% of the outstanding shares of Wabtec common stock, and current Wabtec shareholders are expected . 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. The transaction is expected to be tax free to the companies' respective shareholders. Goldman, Sachs & Co., LLC and Jones Day are acting as financial advisors and legal counsel, respectively, to Wabtec in the transaction. Creating the energy technologies of the future and improving the power networks that we depend on today. That's the number of WABTEC shares you received. Shares of General Electric Co. GE, +1.43% surged 2.0% in premarket trade Monday, after the industrial conglomerate agreed to merge its GE Transportation unit with rail operator Wabtec Corp. WAB . Access GEs recent and historic Annual Reports and accompanying materials. For important information about securities laws and forward-looking statements involving this transaction, please click here. Our two companies have more than 250 years of rail industry heritage, and our shared focus on safety, reliability, quality, and customer relationships will enable a smooth integration., Santana said: The combination of our two strong brands and remarkable people is an excellent fit that will create an organization well-positioned to accelerate the future of transportation. Were deeply proud of GE employees around the world rising to the challenge. Pittsburgh, PA 15212 - USA By embracing diverse teams and perspectives, we are better equipped to build a world that works. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Certificates will not be issued for shares held in a plan. Why Shares in General Electric Crushed the Market in March, Why Shares in General Electric Beat the Market Today. DSPP Some companies offer DSPPs, so please visit your online account to determine if a plan is available to you. The date of record for the transaction is February 14th andGE shareholders as of that date will receive ~0.005403 shares of Wabtec for each GE common share owned. Microsoft is retiring and will no longer support Internet Explorer. Fax: 412-825-1019. 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. Answers to popular and relevant inquiries. Payment months are February, May, August, November. Lee Samaha has no position in any of the stocks mentioned. Are they held somewhere or will I get actual stock certificates mailed to me? Signature Guarantee Programs have been developed and eligible financial institutions which subscribe to such programs are issued "Medallion Guarantee Stamps". On July 27, 2015, Wabtec announced that it plans to purchase 51% of Faiveley Transport's shares in a cash-and-stock deal valued . Following the transaction, Wabtec will have approximately $8 billion in revenues, a more diversified business mix, higher margins, and approximately 15 percent cash EPS accretion in year one. To best address the business needs of our rail customers, we offer a variety of products and services through our Freight and Transit segments. That should wipe out the cash received in the dividend. Sign up for our newsletter and stay up to date with whats happening in Investor news. Meanwhile, the structure of the deal is a nice way to return capital to GE shareholders. Securities and Exchange Commission (SEC) regulations define the financial institutions that are eligible to provide such signature guarantees, e.g., commercial banks, brokers, credit unions, savings and loan institution. 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. I received the following email from GE Investor Relations. 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). GEs transfer agent, EQ Shareowner Services, sponsors and administers a Shareowner Services Plus Plan that provides methods of purchasing, holding and selling shares in GE stock. This website no longer supports the Internet Explorer web browser. Along with its industry-leading portfolio of products and solutions for the rail and transit industries, Wabtec is a leader in mining, marine and industrial solutions. Together, we can expand our global reach, strengthen our market capabilities and lead digital innovation across the transportation industry. 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. Equiniti Trust Company Phone: 1-800-786-2543 (toll free) or 1-651-450-4064 Website: Shareowneronline.com Regular Mail Delivery: EQ Shareowner Services P.O. Overview of General Electric Capital Corporation merger with and into GE. 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. In other words, in future years, earnings should rebound strongly -- and, all things being equal, the EV/EBITDA multiple will decline. On 2/25/19 GE spun off its transportation business to Wabtec, producing .005371 share of Wabtec for each share of GE. WAB ranks lowest in Sentiment; there it ranks in the 29th percentile. lucrative business of locomotive upgrades. This communication contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed transaction between GE and Wabtec. Thank you. 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. $78.06, establishes the shareowners cost basis in Wabtec shares going forward. GE will designate for nomination three independent Board members. Today, we meet the total lifecycle needs of the entire fleet, from new locomotives to modernizations, service, and repairs, adding value at every touchpoint to help customers realize the most value from their investment. 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. Were continuing to do all we can to support our customers and employees during this unprecedented time. DSPPs offer investors the opportunity to buy shares directly from the corporation, via the transfer agent, often without involving a broker. WILMERDING, PA, (Feb. 25, 2019) Wabtec Corporation (NYSE: WAB) announced today it has completed its merger with GE Transportation, a former business unit of GE (NYSE: GE). CONFERENCE CALL INFORMATION 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. Let's take a look at both sides of the story. All told, if GE can maintain its full-year 2018 cash flow guidance and FCF can improve markedly in 2019, then the Wabtec deal will turn out to have been a smart move. Discover how our people & technology are solving global issues, improving lives, and changing industries. (If your numbers are universal, you bought Wabtec for 73.96/sh and sold the fractional for 72.7631/sh netting a short-term loss of $1.1969/Wabtec share). The company has roughly 18,000 employees and facilities located throughout the world. Change your elections by completing the form on your account statement and returning it to Broadridge. I have read everything here and see that $73.96 per share is used to record the buying of the Wabtec shares and that is the closing price on Feb 26, 2019. If investors fail to communicate regularly with GE, their state of residence can take their shares and, in many cases, sell them. The company also builds new switchers locomotives used to move cars around in railyards and commuter locomotives. For example: Mary Smith Cust Don Smith NY Unif Trans Min Act. You should get the shares on the distribution date, February 25th. I am using Quicken 2017 which I assume has not changed on that transaction from Quicken 2019. GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. As a result, the merger is no longer structured as a Reverse Morris Trust and instead will be taxable to GE shareholders. If you keep your stock with your broker in a broker account, you are a "street name" holder and are not directly registered on the company's records as maintained by the transfer agent. The company also builds new switcher and commuter locomotives, and provides aftermarket services. We are seeing growth in rail traffic and recent promising orders for new and modernized locomotives from North American Class I, Shortlines and international railroads, and are confident in the compelling long-term opportunities and synergies before us.. Voices is a network for GEs US supporters interested in the companys impact in their communities and in issues that impact the company. The foregoing list of important factors is not exclusive. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The backlog of approximately $18 billion includes about 1,800 new locomotives and approximately 1,000 to be modernized. Phone: 412-825-1000 Contact information for general inquiries and feedback. All Rights Reserved. I couldnt find it on the web. I'm looking for someone to tell me how! Disclosure: Author holds no position in any stock mentioned. The combined company has a multi-year backlog of more than $23 billion. Phone: 412-825-1000 Box 1342Brentwood, NY 11717. We're focused on driving ongoing safety, innovation, efficiency, reliability, and productivity. Accomplished leaders building GEs legacy. 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. 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. It is based in Wilmerding, Pennsylvania. Moreover, under the modified structure Wabtec will issue 3.3 million fewer shares than . The companys average rating score is 2.71, and is based on 5 buy ratings, 2 hold ratings, and no sell ratings. I expect 25 shares of the Wabtec stock based on my shares of GE, but I dont know when I will get them and how will they come to me. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Normally a corporation will have documentation on their website with a basic formulas to calculate the subsequent tax basis. Socials. If you do not have this information, you should call our Lost Securities Department at the 800 number on this site. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. Were deeply proud of GE employees around the world rising to the challenge. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) that one or more closing conditions to the transaction, including certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the proposed transaction, may require conditions, limitations or restrictions in connection with such approvals or that the required approval by the stockholders of Wabtec may not be obtained; (2) the risk that the proposed transaction may not be completed on the terms or in the time frame expected by GE or Wabtec, or at all; (3) unexpected costs, charges or expenses resulting from the proposed transaction; (4) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction; (5) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the proposed transaction or integrating the businesses of GE, Wabtec and SpinCo; (6) the ability of the combined company to implement its business strategy; (7) difficulties and delays in achieving revenue and cost synergies of the combined company; (8) inability to retain and hire key personnel; (9) the occurrence of any event that could give rise to termination of the proposed transaction; (10) the risk that stockholder litigation in connection with the proposed transaction or other settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (11) evolving legal, regulatory and tax regimes; (12) changes in general economic and/or industry specific conditions; (13) actions by third parties, including government agencies; and (14) other risk factors as detailed from time to time in GEs and Wabtecs reports filed with the SEC, including GEs and 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. The dividend calendar shows you for more than 1,000 dividend stocks in which month which company distributes its dividends. How should shares for transfer be mailed to Broadridge? The S-4 SEC filing amended sometime like 1/25/19 seems to support that taxable change. I failed. This feels a bit disappointing as I have some doubts on the operating execution. The transaction is expected to close in early 2019, subject to customary closing conditions, approval by Wabtec shareholders, and regulatory approvals. General Electric Co. changed the structure of the planned spinoff of its transportation division by taking a larger stake in the new company rather than giving it to shareholders. Fax: 412-825-1019. Can all this be explained in normal peoples language. 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. Proactive performance monitoring can also be improved by integrating Wabtec products within locomotive control systems and by leveraging GE Transportations expansive remote monitoring and diagnostics systems. At Wabtec, we help our customers overcome their toughest challenges by delivering rail and industrial solutions that improve safety, efficiency and productivity. 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. An analyst with a more pessimistic approach would worry about continued deterioration in the power segment and therefore see the cash from Wabtec as small potatoes compared to what GE could need to realize its restructuring plans while maintaining its current dividend. Commercializing GEs technology and IP to accelerate growth and achieve market differentiation. Learn more about our culture, businesses, and life at GE. I wrote to GE investor relations and received the below response, hope this is helpful, 'The inclusion of the per share dividend amount in income, which is Readers are cautioned not to place undue reliance on any of these forward-looking statements. If the transaction is effected via an exchange offer, GE will also file with the SEC a Schedule TO with respect thereto. How do I know which date 2/25 or 2/26 and if to use the Close or High & Low divided by 2? GE Reverse Stock Split Frequently Asked Questions. 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 approximately 24.9% ownership interest in Wabtec. As a result of an internal reorganization undertaken by General Electric Company, interest payments made after November 25, 2018 will be treated as U.S.-source interest for U.S. federal income tax purposes. If you wish to move your shares from registered to beneficial ownership, Broadridge or your broker will help you do so. Wabtec Completes Successful Merger With GE Transportation Press Release (PDF). GE Transportations innovations help customers deliver goods and services with greater speed and savings using advanced manufacturing techniques and connected machines. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. This will offer shareholders a chance to sell their GE shares but retain their Wabtec interests or alternatively sell their Wabtec interest and retain their GE shares. Box 1342Brentwood, NY 11717. If you have not established an online account, you may follow the online instructions or contact us via the 800 number on your account statement or this site. All comments, concerns and complaints can be addressed via phone or e-mail to: To view GE Form 8937 attachment, click here, GE HealthCare Distribution Ratio Frequently Asked Questions, https://www.ge.com/news/press-releases/ge-announces-board-of-directors-for-future-independent-ge-healthcare-confirms-target. The combination will make Wabtec a Fortune 500, global transportation leader in rail equipment, software and services, with operations in more than 50 countries. All Rights Reserved. What's more, the deal has been structured in a tax-efficient manner. Joint Tenants with Rights of Survivorship, This registration is used when two or more individuals have equal claim to the shares. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Investors are expected to benefit through ownership of a stronger, more diverse business better positioned to perform through the cycle, with expected annual double-digit EPS growth and total run-rate synergies of about $250 million estimated to be achieved by 2022. The deal to merge GE transportation with Westinghouse Air Brake Technologies (WAB-0.07%), or Wabtec, is somewhat complicated but, in general, can be seen as a near-term positive for shareholders . GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. Wabtec brings to market a robust installed base of more than 23,000 locomotives globally, an expanded global reach, a strong mix of products and services, as well as enhanced capabilities to drive innovation faster in key growth areas. 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. This information does not constitute tax advice. I did review the discussion but it didn't help! Furthermore, the transaction will facilitate a tax step-up with an NPV of approximately $1.1 billion of net tax benefit accruing to the combined company. Making the world smarter, happier, and richer. I end up with 27 million+ shares of Wabtec which obviously isn't correct! Explore GEs recent and historic SEC filings. If you hold shares in DRS Book-Entry (no certificate), please follow the steps below: How do I transfer registered shares to beneficial or street shares via my broker? Locomotive; Freight Car; Freight Services; Ive had a series of email exchanges with the corporate actions team at Ameritrade. In short, GE needs cash, and many investors may have preferred a deal with a higher cash component rather than the one outlined above. Learn More. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. Return calculations do not include reinvested cash dividends. About Wabtec Corporation Based on the number of shares of GE and Wabtec common stock outstanding on Dec. 31, GE shareholders are also expected to get about 0.005403 of a share of Wabtec common stock for each share of GE . $3.9 billion in revenue and $504 million in adjusted EBIT (approximately 13% margin). Effective immediately, Wabtec Chairman Albert J. Neupaver has been re-appointed executive chairman of the company, while Raymond T. Betler remains Wabtecs president and CEO. Must they be reminded that we are retirees of a manufacturing company so most of us do not have the computer skills to educate ourselves further on this matter via the internet. Registering shares in the name of a Trust requires that specific information be provided: the name of the trust and/or the maker or beneficiary and the date of the trust instrument. Under the agreement, which has been approved by the Boards of Directors of Wabtec and GE, GE will receive $2.9 billion in cash at closing and GE and its shareholders will receive a 50.1% ownership interest in the combined company, with Wabtec shareholders retaining 49.9% of the combined company. We're focused on driving ongoing safety, innovation, efficiency, reliability, and productivity. You can also buy GE stock through brokerage firms that act as a facilitator between individual investors and GE. Access the latest press releases, media contacts, and press tools. Let's start by breaking out who will own what after the merger. Wells Fargo Shareowner Services (Shareowner Services), a division of Wells Fargo Bank N.A., has served as the transfer agent & registrar for GE. The Company is committed to maintaining a strong investment grade credit rating profile and will use its strong cash flow to prioritize debt reduction. The company merged with GE Transportation on February 25, 2019. The broker will then have the shares transferred from Broadridge to your brokerage account. Interested parties can visit. Summary. Wabtec will host a call with analysts and investors at 8:30 a.m., ET today to discuss its 2018 results and 2019 guidance, and the merger. Explore GEs recent and historic SEC filings. EQ Shareowner Services is GEs transfer agent and administers all matters related to stock that is directly registered with GE.

Shampoo Bar Recipe, Otsego Lake Musky, Swale Borough Council Tip Booking, Justin Murdock Daughter, Cedar Grove Nj Police Contract, Articles H

how many shares of wabtec will ge shareholders get

how many shares of wabtec will ge shareholders get