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...Worldwide Holdings Q1, IBM Q1, Interpublic Q1, Lloyds Banking Group Q1 interim management statement, Meta Q1, PZ Cussons Q3 trading update, Raymond James Financial Q2, Reckitt Benckiser Q1 trading update, Wabtec...
...Dunelm HY, Heineken FY, Kirin Holdings Q4, Kraft Heinz Q4, Norsk Hydro Q4, OCI Q4, Rakuten Group Q4, Rexel FY, Severn Trent Q3 trading update, Sony Q3, Thyssenkrupp Q1, United Utilities Q3 trading update, Wabtec...
...Wabtec was 3.2 per cent higher, although it had been up by as much as 5.9 per cent....
...In February, it spun off its transportation business to rail equipment manufacturer Wabtec, raising $1.6bn in net cash....
...Goldman Sachs advised Wabtec....
...earnings per share, it expects those increases to be offset by higher tax and interest charges and the impact of selling businesses, including the locomotive and mining equipment division that was merged with Wabtec...
...After years of scratchy dealmaking to resolve declining profitability, Lex thinks its latest plan to buy Wabtec could make some sense....
...But GE Transportation’s operating profit is set to jump faster than Wabtec in coming years....
...Mr Culp said last month the company was aiming to raise more than $30bn from selling stakes in the healthcare division, in the oilfield services group Baker Hughes and in the transport equipment company Wabtec...
...The deal was in line with GE’s recent guidance to raise $30bn from disposals concentrated on its healthcare business, as well as its Baker Hughes and Wabtec subsidiaries....
...net debt of the industrial business was $55bn, including the pension deficit, and that can be reduced by a series of deals planned or under way, including the merger of the rail equipment business with Wabtec...
...Last year he advised Swiss pharmaceutical group Novartis on its purchase of AveXis, structured General Electric’s $11bn locomotive combination with Wabtec, and offered advice on the $6.4bn sale of ABB’s...
...GE has also agreed to merge its locomotive and mining equipment division with Wabtec, giving it $2.9bn in cash and a stake in the new company, and that deal is expected to be completed early next year....
...GE agreed to merge its transportation unit, which also makes trains, with Wabtec and take a 50.1 per cent stake in the combined company....
...Meanwhile Wabtec, the company that is merging with GE’s locomotive and mining equipment division, last week secured approval from its shareholders to go ahead with that deal, which is scheduled to close...
...Shares in the industrial conglomerate are 2.8 per cent higher after it struck a $11.1bn deal to merge its transportation unit with Wabtec. Industrials also drove the gains on the S&P 500....
...Industrials and the share-price weighted Dow were buoyed by a near 2 per cent rise in General Electric shares after it reached a $11.1bn deal to merge its transportation unit with Wabtec....
...solution to the problem of the group’s residual insurance liabilities: and the lack of any more dramatic moves towards restructuring the group following the $11bn merger of its transport division with Wabtec...
...Here’s a list of Dyal Co transactions: Adviser to General Electric on its plan to combine its transport unit with Wabtec, the maker of passenger and freight locomotives, in a $11.1bn deal....
...Including the transport equipment division, which is being merged with Wabtec, the businesses being separated accounted for 33 per cent of GE’s revenues and 30 per cent of its industrial segment profits...
...In New York, General Electric has agreed to combine its transportation unit with Wabtec, the maker of passenger and freight locomotives, in an $11.1bn deal that provides the US blue-chip company with a $2.9bn...
...Together with the previously announced merger of the transport equipment division with Wabtec, the businesses being shed accounted for 33 per cent of the company’s revenues and 30 per cent of its industrial...
Foreign groups are beating a retreat, writes Jan Cienski
International Edition