Just as promised on its first-quarter earnings call,General Electric Company (GE 0.93%)has announced a deal to exit its transportation business as part of a wider plan to unload $20 billion worth of assets. However Schwab has used Feb 25, 2019 of $76.96 (actually $76.955) calculated with the High of $80.46 + Low of $73.45 = $153.91 and divide by 2 which = $76.955 I have not spoken yet to Schwab nor to my Investment advisor. You may obtain a surety bond from our independent insurance provider, The Chubb Corporation. GE Transportation Spinoff And Merger With Wabtec Set, GE Shareholders By bringing together our highly complementary strengths we are confident that this transformational combination will create value for both Wabtec and GE shareholders, innovative solutions for our customers, and new outlets for long-term career growth for our employees. Solutions. A custodial registration requires the names of the custodian and the beneficial owner. Upon the Merger, the obligations of GECC under its then outstanding debt obligations were assumed by GE (the "GE Debt Assumption"). GE shareholders own about 24.3 percent of Wabtec on a fully diluted basis. You should receive your 1099 by mid-February. If not, it would represent a missed opportunity to possibly bring in some more much-needed cash. Stated another way, for each approximately 186 shares of GE common stock held, a GE shareholder will receive one share of Wabtec common stock. There are many options when it comes to securities brokers, so make sure you are choosing one that will best suit your needs. 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. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Learn more about our culture, businesses, and life at GE. 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. Let's start by breaking out who will own what after the merger. The influx of $2.9 billion in cash from Wabtec won't impress the bears much. GE Transportation | GE News - General Electric The transaction is valued at approximately $11.1 billion.When adjusted for the net tax benefit of $1.1 billion accruing to the combined company, the transaction value is $10 billion. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Both companies are expected to benefit from the cyclical tailwinds they are experiencing as industry conditions improve. Plus500. Together with our customers, were proving that no one is ever limited to only affordable, reliable, or sustainable energy. At GE, we are committed to building a more diverse workforce and a more inclusive workplace. Company mailings, including dividends, will reach you through your broker. So far I still have 18.395 shares in my Vanguard brokerage account. Betler said: Wabtec and GE Transportation are global industry leaders and we believe that together we have a unique opportunity to drive tremendous growth in 2019 and beyond as the industry continues to improve. Wabtec has approximately 27,000 employees in facilities throughout the world. The date of record for the transaction is February 14th andGE shareholders as of that date will receive ~0.005403 shares of Wabtec for each GE common share owned. 773.297.0482, Rich Stimel, Wabtecrstimel [at] wabtec [dot] com GE Aerospace is a world-leading provider of jet engines, components and systems for commercial and military aircraft with a global service network to support these offerings. DRIPs offer shareholders the convenience of reinvesting dividends, minimizing the expense and effort associated with dividend checks. announced that it had entered into an agreement to sell Shareowner Services to Equiniti Group plc (Equiniti Group). Wabtec and its affiliates do not provide tax, legal or accounting advice. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. Any forward-looking statements speak only as of the date of this communication. This is a once-in-a-lifetime opportunity to bring together nearly four centuries of collective experience to create a technologically advanced leader with a highly complementary set of capabilities to move and improve the world. Hope this helps. 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. Patrick, I am not a tax expert and you should certainly ask one. You can also listen to the webcast by going to Wabtecs new website at www.WabtecCorp.com and clicking on Events & Presentations in the Investor Relations section. Access GEs recent and historic Annual Reports and accompanying materials. 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. This transaction is good for GE shareholders, who gain equity in an organization at the forefront of rail innovation; for GE, as we work to reduce leverage and strengthen our balance sheet; and for Wabtec, which now has a stronger and more diversified business mix to serve its customers, said GE Chairman and CEO H. Lawrence Culp Jr. The GE and Wabtec teams worked hard to complete this deal, and I am excited by the opportunities ahead for Wabtec., Raymond T. Betler, Wabtecs president and CEO, said the deal was a once-in-a-lifetime opportunity to bring together nearly four centuries of collective experience to create a technologically advanced leader with a highly complementary set of capabilities to move and improve the world.. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. The Motley Fool owns shares of and recommends Westinghouse Air Brake Technologies. Box 64854 Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Wabtec (WAB) Signs Revised Deal With GE, Gets Majority Stake GE Reworks Wabtec Deal to Raise More Cash for Itself - WSJ 30 Isabella Street The GEs website under the investors tab doesnt have any mention of spinoff of the transportation business to WAB. 2023 Wabtec Corporation. What's more, the deal has been structured in a tax-efficient manner. Should one of the parties die, ownership of the shares passes to the surviving tenant(s). Example: Mary Smith & Barbara Smith Ten Com. Return calculations do not include reinvested cash dividends. 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. GE shares rose 2.8 percent to $15.39. I am using Quicken 2017 which I assume has not changed on that transaction from Quicken 2019. Has been since process revisions were improved, but so few taxable spinoffs come up, the language has not been a problem so far (that I have seen). 30 Isabella Street Pittsburgh, PA 15212 - USA Phone: 412-825-1000 Fax: 412-825-1019. 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. 617.443.3400, Deia Campanelli, GEdeia [dot] campanelli [at] ge [dot] com The recent restructuring of the deal provides GE with more cash, but it also left GE as the minority owner of the combined entity. The ex-dividend date is December 20, 2021. GE Transportation helps move the world and improve the world, as a global technology leader and supplier of equipment, services and digital solutions to the rail, mining, marine, stationary power and drilling industries. Current Shares. Changing plan electionsYou may change your plan investment decisions by taking the following steps: Selling shares held in a planYou may sell shares held in a plan by taking one of the following steps: When will I receive my 1099?Form 1099s are typically mailed or sent electronically in January according to IRS guidelines. GE Transportation has a backlog of roughly $18 billion, including approximately 1,800 new locomotives and roughly 1,000 locomotive modernized units. The transaction is expected to be tax free to the companies' respective shareholders. the transaction has no impact on the tax basis in GE shares'. We are seeing growth in rail traffic and recent promising orders for new and modernized locomotives from North American Class I, Shortlines and international railroads, and are confident in the compelling long-term opportunities and synergies before us.. Cost basis and return based on previous market day close. Learn how were delivering on our priorities. The Company is committed to maintaining a strong investment grade credit rating profile and will use its strong cash flow to prioritize debt reduction. I couldnt find it on the web. The S-4 SEC filing amended sometime like 1/25/19 seems to support that taxable change. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Tune in or catch up on GEs latest investor events and reports. Creating the energy technologies of the future and improving the power networks that we depend on today. Our technology, global network, and exceptional team is fueled by a missionbuilding a world that works. CAUTION CONCERNING FORWARD-LOOKING STATEMENTS. DSPP Some companies offer DSPPs, so please visit your online account to determine if a plan is available to you. GE's innovation engine where ideas become reality to create a better world and deliver differentiated tech across the company's industrial portfolio. WILMERDING, Pa. and CHICAGO, May 21, 2018 Wabtec Corporation (NYSE: WAB) has entered into a definitive agreement to combine with GE Transportation, a unit of General Electric Company (NYSE: GE). Wabtec is a leading supplier of critical components, locomotives, services, signaling and logistics systems and services to the global rail industry. How should shares for transfer be mailed to Broadridge? It is based in Wilmerding, Pennsylvania. 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. Make the selection by filling out the form on your account statement and returning it to Broadridge. Multiply the number of WABTEC shares received by $73.96. Complementary businesses and large global installed base will create additional opportunities for cross-selling, aftermarket services growth and new solutions in a rapidly evolving industry. Transfer shares to your broker via the transfer process (see FAQ "Ownership Questions"). If you hold them directly, you should receive them that way. At Wabtec, we help our customers overcome their toughest challenges by delivering rail and industrial solutions that improve safety, efficiency and productivity. This communication is not a solicitation of a proxy from any investor or security holder. If you want to sell your shares of GE stock, please contact GEs current transfer agent, Equiniti Trust Company (EQ). Wells Fargo Shareowner Services (Shareowner Services), a division of Wells Fargo Bank N.A., has served as the transfer agent & registrar for GE. If you own stock through a broker, sign up at Broadridge. GEs transfer agent, EQ Shareowner Services, sponsors and administers a Shareowner Services Plus Plan that provides methods of purchasing, holding and selling shares in GE stock. Wabtec has also been notified that it will now be included in the S&P 500 Index. GE also received approximately $2.9 billion in cash at closing. GE Transportation has received $3.6 billion in orders in the last two quarters. Explore a timeline of GE technologies that have spurred transformation across the world. Welcome Wabtec Investors - Broadridge Financial Solutions

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