The US Department of Justice (DOJ) has closed its review of the $11bn merger deal between Wabtec and GE Transportation, a business unit of General Electric Company.

The completion of the review is expected to facilitate the closure of the deal in this quarter, subject to other closing conditions.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Wabtec president and CEO Raymond T Betler said: “The DOJ’s decision to close its review of the pending merger marks a significant milestone for our customers, employees and shareholders.

“By bringing together GE Transportation, a global digital industrial leader and supplier to the rail, mining, marine, stationary power and drilling industries, with Wabtec’s broad range of freight, transit and electronics solutions, we will have the capability and expertise to invent smarter ways to move and improve the world.”

“We will have the capability and expertise to invent smarter ways to move and improve the world.”

In May, the merger agreement was signed following approval of the respective boards of directors. As a part of the deal, GE will receive $2.9bn in cash.

GE shareholders and GE will own 40.2% and 9.9% stake in the merged company. Wabtec shareholders will hold the remaining 49.9% stake.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Wabtec-GE Transportation merger is estimated to create a stronger and diversified transportation and logistics company with an extended global reach.

It is also expected to make Wabtec a Fortune 500 company with operations across 50 countries.

Through its subsidiaries, Wabtec manufactures equipment, systems and other products for locomotives, freight cars and passenger rail cars. It has around 18,000 employees worldwide.

GE Transportation delivers equipment, technology and services to multiple industry verticals including rail, mining, marine and stationary power industries. It has nearly 9,000 employees worldwide.