Hints and tips:
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...In February, it spun off its transportation business to rail equipment manufacturer Wabtec, raising $1.6bn in net cash....
...Under the new agreement, GE will now own 24.9 per cent of Wabtec, up from the 9.9 per cent that the two companies originally agreed to last May....
...The company is now projecting adjusted earnings per share of 50-60 cents this year....
...GE will take a 50.1 per cent stake in the combined company as part of its deal with Wabtec, which traces its roots to 1869 and is worth about $9bn....
...In 2017, both companies had roughly $4bn in revenue. However, GE Transportation’s operating profit of $700m was 40 per cent greater than that of Wabtec....
...After years of scratchy dealmaking to resolve declining profitability, Lex thinks its latest plan to buy Wabtec could make some sense....
...Wabtec....
...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...
...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....
...Companies have increasingly turned to specialist M&A advisers that have fewer than two-dozen employees, in part for their discretion and experience....
...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...
...Ullman has been running communications for the company since 2001....
...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...
...Two precedents for creating autonomous divisions with separate listings are provided by the Wabtec move, which will leave GE with 10 per cent of the merged company, and the deal with oilfield services group...
...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...
...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...
...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...
...Sir, I fear Malcolm Brinded of Shell (“Big role for gas in global energy mix”, Letters, December 7) may be conflating his desire to promote consumption of his company’s products with a misunderstanding of...
...state-owned, companies....
...and some local companies from doing nuclear commerce with India....
...Ministers and officials point to the agreements signed by EDF to dispose of land at most of its nuclear sites to other companies to allow them to build reactors....
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