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. 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. The Uniform Commercial Code (UCC) entitles transfer agents and corporate issuers to receive signature guarantees to protect them against fraudulent and unauthorized transfers. 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. If investors fail to communicate regularly with GE, their state of residence can take their shares and, in many cases, sell them. 773.297.0482, Wabtec Investor Contacts Payment months are February, May, August, November. Broadridge can support the sale of your shares if they are held in DRS (no certificates) as part of a Dividend Reinvest Plan (DRIP), Employee Stock Purchase Plan (ESPP) or Direct Stock Purchase Plan (DSPP). The deal was agreed upon in May 2018. https://www.sec.gov/Archives/edgar/data/943452/000114036119001550/s002443x10_s4a.htm, https://www.quicken.com/support/how-do-i-record-corporate-spin-new-securities, https://www.sec.gov/Archives/edgar/data/40545/000119312518172907/d591170d8k.htm, https://globenewswire.com/news-release/2019/01/25/1705540/0/en/Wabtec-and-GE-Modify-Terms-of-Transaction-Expect-to-Close-By-End-of-February-2019.html, Div from GE @ $0.397239/GE share (0.005371 * 73.96), Buy (0.005371 * GE Share Quantity) shares of Wabtec for that whole dividend amount. General Electric Is Getting Ready to Fire On all Cylinders, Why General Electric Stock Aced an 8% Gain Thursday, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Why I Refuse to Chase the Maximum Social Security Benefit, Social Security Cuts May Be Coming. What do GE shareholders get for Wabtec? - Rattleinnaustin.com At GE, we are committed to building a more diverse workforce and a more inclusive workplace. Notification via fax to: (215) 553-5402; attention Lost Securities Dept. Those shares were also convertible, meaning Buffett could choose to convert them to common shares. We're focused on driving ongoing safety, innovation, efficiency, reliability, and productivity. A set of GE algorithms then crunches the information and flags potential problems to operators working at several mission-control-like centers located around the world. This enhanced capability is expected to drive significant productivity for customers by delivering improved cycle time, lower production costs and better asset performance. 773.297.0482, Rich Stimel, Wabtecrstimel [at] wabtec [dot] com I am using Quicken 2017 which I assume has not changed on that transaction from Quicken 2019. Together we are well positioned to take advantage of the opportunities created by industry trends toward efficiency and improved performance and, with the merger complete, we are focused on leveraging our complementary portfolios to spur growth.. Drive increased value for shareholders: With approximately $8 billion in combined revenues and a large global installed base, the combined company will have a leading position in key freight rail and transit geographies worldwide, and will be well-positioned to serve customers as industry demand continues to improve. Access the latest press releases, media contacts, and press tools. Note that all shares held in a plan will be in DRS (book-entry) form. $1.1 billion of net tax benefit will accrue to the combined company. Westinghouse Air Brake Technologies has received a consensus rating of Buy. 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. You will find the information under the "Dividend Payment Options" section of the website. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Overview of General Electric Capital Corporation merger with and into GE. CAUTION CONCERNING FORWARD-LOOKING STATEMENTS. How should shares for transfer be mailed to Broadridge? Ultimately, GE agreed to unwind its ownership in the combined company (subject to certain limitations) over the next three years, but not in the 30 days immediately post close. 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. This communication is not a solicitation of a proxy from any investor or security holder. Wabtec's management certainly thinks it got a great deal. Although this figure is lower than the 5% many analysts assume for mergers, there are a couple of things to consider that suggest Wabtec is onto a good thing. 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. GE pays a dividend of $0.32 per share. To listen via webcast, go to the existing Wabtec website at www.wabtec.com and click on Webcasts in the Investor Relations section. 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. Wabtec has approximately 27,000 employees in facilities throughout the world. Answers to popular and relevant inquiries. GE shares rose 2.8 percent to $15.39. Plus500. This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents GE, Wabtec and/or SpinCo may file with the SEC in connection with the proposed transaction. 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. For the fiscal year ending December 31, 2017, GE Transportation generated approximately $3.9 billion in revenue and $701 million in adjusted EBIT (approximately 18% margin). This registration gives sole ownership to the single individual and requires that the person's legal name be used. Mail your certificates to Broadridge at the address below with a completed Legal Transfer Form which can be downloaded at the right: The Legal Transfer Form must be appropriately signed by all registered holders, exactly as the name(s) appear on the face of the certificate(s) or must be accompanied by a stock power bearing the appropriate signature(s). Commercializing GEs technology and IP to accelerate growth and achieve market differentiation. As you can see below, existing shareholders will be rewarded with stock, as well as future cash flow and dividends from the new Wabtec. 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. DRIP - You may elect to have your dividends reinvested in any of the following ways: Make the selection via your online account. 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. If you do not have this information, you should call our Lost Securities Department at the 800 number on this site. 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. This fee structure was not changed as part of the switch to, Avoid Losing Your Shares to the State as Unclaimed Property. GE to merge transportation unit with Wabtec in $11.1 billion deal The respective NYSE tickers will be GE WI and WAB WI. 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. Registered shareholders receive dividends, proxies and other communications directly from the corporation via the transfer agent or the corporation directly. 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. Access important shareholder information. Wabtec and GE Transportation to Merge, Creating Global Leader for Rail Equipment, Services and Software (PDF). Read the latest GE financial news releases and stories. Every U.S. state puts an obligation on shareholders to remain active or their shares will be considered lost. General Electric Company confirms that all distributions made on General Electric Company Series D preferred stock in 2016 constitute dividends for purposes of related IRS Forms 1099-DIV and 1042-S reporting , consistent with the tax disclosure included with the prospectus published in connection with the issuance of these securities. GE has decided to merge GE Transportation with Wabtec. Substantial annual run-rate synergies of $250 million and a net present value of approximately. 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. 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 . Wabtec Completes Successful Merger With GE Transportation GE Announces Details for Anticipated Completion of Spin-Off and The 2019 EBITDA multiple range including synergies and tax benefits is approximately 9x, and the 2019 EBITDA multiple range excluding synergies and tax benefits is approximately 11.75x. Learn more about our culture, businesses, and life at GE. Additionally, a when issued market is expected to begin trading on or about February 14th. Buy the number of shares of WABTEC per step 1 at a per share price of $73.96. An overhaul can lower the amount of fuel the locomotives need by 10 percent, increase reliability by 40 percent and boost their ability to haul cargo by 50 percent. The company merged with GE Transportation on February 25, 2019. All Rights Reserved. Wabtec pays a dividend 4 times a year. 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. Please refer to page two of the Legal Transfer Form for additional document requirements based on your stock transferring situation. Are they held somewhere or will I get actual stock certificates mailed to me? Locomotive; Freight Car; Freight Services; I did review the discussion but it didn't help! Visit your online account and change your investment elections in the appropriate plan section. Broadridge will send you the documents necessary to obtain replacement certificates along with instructions to complete them. Commercializing GEs technology and IP to accelerate growth and achieve market differentiation. However, GE is pre-funding its pension plan to the tune of $6 billion in 2018 by borrowing the same amount. What are the more common types of security registrations? Readers are cautioned not to place undue reliance on any of these forward-looking statements. 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? 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. 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. 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. On August 5, 2014, GE completed the initial public offering (IPO) of its North American Retail Finance business, Synchrony Financial, as a first step in a planned, staged exit from that business. Multiply the number of WABTEC shares received by $73.96. The company employs approximately 9,000 employees worldwide. Has anyone found a cite for that? Wabtec and GE Transportation will be combined in a transaction in which GE will (i) sell a portion of the assets of GE Transportation to Wabtec; (ii) complete the spin-off or split-off of a portion of GE Transportation to GE shareholders; and (iii) immediately thereafter merge GE Transportation with a wholly owned subsidiary of Wabtec. You should get the shares on the distribution date, February 25th. GE Announces Details for Anticipated Completion of Spin-Off and Making the world smarter, happier, and richer. Discover how our people & technology are solving global issues, improving lives, and changing industries. On December 2, 2015, as part of the GE Debt Assumption and as a result of the Merger, GE succeeded to GECC and assumed the obligations of GECC under all of GECC's outstanding indebtedness and other financial obligations, including: Commercial paper is short-term unsecured senior debt issued in the open market by both financial and nonfinancial companies with strong credit ratings. Example: Mary Smith & Barbara Smith Jt Ten, This registration allows an appropriate portion of the shares to pass to the estate of the holder upon the holder's death rather than to the surviving tenant. These instructions should provide the name, address and social security number for each transferee and should indicate the number of shares to be transferred. 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. Sell any fractional share for whatever cash-in-lieu amount received. Box 64854 The combined company, which is expected to have revenues of more than $8 billion in 2019, has approximately 27,000 employees in 50 countries. 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. Wabtec Corporation is a leading global provider of equipment, systems and value-added services for transit and freight rail. 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. 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. That means a shareholder with 10,000 GE shares will walk away with only 54 shares of WAB along with a little cash. GE will receive a $2.9 billion up-front cash payment, and GE and its shareholders will receive a 50.1% ownership interest in the combined company.
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