how many shares of wabtec will ge shareholders get

There are many options when it comes to securities brokers, so make sure you are choosing one that will best suit your needs. 2023 Wabtec Corporation. Access important shareholder information. Explore GEs recent and historic SEC filings. A replay will also be available at the same link after the event. Change your elections by completing the form on your account statement and returning it to Broadridge. Contact information for general inquiries and feedback. Is it the same ($73.96) as the shares added on 2/25/19? Caution Concerning Forward-Looking Statements As a small GE stock owner (roughly 100 shares), I assume I will get cash in my brokerage account. Wabtec has obtained full commitments for a $2.9 billion bridge facility and expects to put in place permanent debt financing prior to closing. Since GE Transportation is only expected to start to rebound from a cyclical low in 2018, even the EV/EBITDA multiple for 2019 is still likely to reflect cyclicallylow earnings. Due to low participation, GE ended the Stock Redemption program on November 10, 2016 for GE Stock Direct Investors. The combined company, which is expected to have revenues of more than $8 billion in 2019, has approximately 27,000 employees in 50 countries. 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. This website no longer supports the Internet Explorer web browser. Neither GE nor Wabtec undertakes 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. Normally a corporation will have documentation on their website with a basic formulas to calculate the subsequent tax basis. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE DOCUMENTS WHEN THEY BECOME AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, AND OTHER DOCUMENTS FILED BY GE, WABTEC OR SPINCO WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. 30 Isabella Street Learn more about our culture, businesses, and life at GE. GE Announces Details for Anticipated Completion of Spin-Off and GE will not be filing Form 8937 because 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. Wabtec manufactures products for locomotives, freight cars and passenger transit vehicles, and builds new locomotives up to 6,000 horsepower (4 MW). How can I obtain a copy of my 1099?You may download and print a copy of a Broadridge issued 1099 by accessing your online account at investor.broadridge.com. In the event of loss, a surety bond of 2% will be required to replace the certificates. Moreover, transportation is a highly cash-generative business for GE, and exiting it will trim FCF generation in the future. Otherwise, if your shares are not part of such plans, you must take your certificate(s) to a securities broker to sell the shares. The companys average rating score is 2.71, and is based on 5 buy ratings, 2 hold ratings, and no sell ratings. If you hold them directly, you should receive them that way. 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. TRANSACTION DETAILS Learn More. 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. Please send us a letter of instruction signed by all registered owners stating your intent to transfer. ", Broadridge Corporate Issuer Solutions P.O. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. Every state has this law, often referred to as Unclaimed Property. The deal to merge GE transportation withWestinghouse Air Brake Technologies(WAB -0.07%), or Wabtec, is somewhat complicated but, in general, can be seen as a near-term positive for shareholders. A custodial registration for a minor is a common form of this registration type. The foregoing list of important factors is not exclusive. Also, an audio replay of the call will be available by calling 412-317-0088 (passcode: 466#). I give up! To listen via webcast, go to the existing Wabtec website at www.wabtec.com and click on Webcasts in the Investor Relations section. 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. GE Transportation | GE News - General Electric Overview of General Electric Capital Corporation merger with and into GE. DRIP - You may elect to have your dividends reinvested in any of the following ways: Make the selection via your online account. Has anyone found a cite for that? lucrative business of locomotive upgrades. 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. The exchange ratio for the combined Spin-off/merger transaction is 0.005371, meaning participating GE shareholders will receive 0.005371 shares of Wabtec common stock for each outstanding share of GE common stock held. 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. The ex-dividend date is December 20, 2021. Access the latest press releases, media contacts, and press tools. 773.297.0482, Rich Stimel, Wabtecrstimel [at] wabtec [dot] com We recommend that all certificates be sent by registered mail, return receipt requested. Ive had a series of email exchanges with the corporate actions team at Ameritrade. Wabtec is a leading supplier of critical components, locomotives, services, signaling and logistics systems and services to the global rail industry. 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? As it stands, GE expects $6 billion to $7 billion in industrial FCF in 2018, which is intended to fund a $4.2 billion dividend payment. Explore a timeline of GE technologies that have spurred transformation across the world. The S-4 SEC filing amended sometime like 1/25/19 seems to support that taxable change. The Motley Fool has a disclosure policy. Strategic Combination Will Drive Shareholder Value Creation by Accelerating Innovation in Transportation and Logistics. About Wabtec Corporation Disappointingly, they seem unwilling to take any action to get the incorrect tax treatment of the GE-WAB action corrected. With best-in-class manufacturing facilities, unmatched digital expertise, always-on global services delivery, and unrivaled product breadth and performance, Wabtec is the rail industrys one-stop shop. 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). 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. The Company is committed to maintaining a strong investment grade credit rating profile and will use its strong cash flow to prioritize debt reduction. Commercializing GEs technology and IP to accelerate growth and achieve market differentiation. Certificates will not be issued for shares held in a plan. GE's dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. 773.297.0482, Wabtec Investor Contacts Microsoft is retiring and will no longer support Internet Explorer. How do I know which date 2/25 or 2/26 and if to use the Close or High & Low divided by 2? Read GEs 2022 Proxy Statement, vote your shares and access the 2022 Annual Meeting. GE shareholders will directly own approximately 24.3% of Wabtec on a fully diluted basis and GE will own common stock and non-voting convertible preferred stock which together represent approximately a 24.9 percent economic interest in Wabtec on a fully diluted basis, up from the 9.9 percent stake that GE would have owned under the originally . The transaction is expected to be tax free to the companies' respective shareholders. There are several custodial registrations possible. Access GEs recent and historic Annual Reports and accompanying materials. 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. On 2/25/19 GE spun off its transportation business to Wabtec, producing .005371 share of Wabtec for each share of GE. The bearish case for GE stock, for the most part, focuses on the deterioration in free cash flow (FCF) and the ongoing problems in the power segment. You're right, I reversed the figures and corrected my original post. Request that Broadridge facilitate the sale of your shares by completing the form attached to your account statement and returning it to Broadridge. How do I transfer my stock and retain as registered shares? The GE Transportation business is positioned for a significant rebound, with estimated adjusted EBITDA growing from about $750 million in 2018 to between $900 million and $1 billion in 2019.