Months after the spinoff of its transportation unit and its subsequent merger with Wabtec(WAB), GE(GE) has sold 25.2 million shares of Wabtec stock in a public offering at $73.50 per share. The offering had originally been set at 12.5 million to 14.375 million shares but was quickly upsized, presumably due to robust interest. GE continues to own around… Read More »
A spinoff of a Dow Jones Industrial Average component is not an everyday occurrence. GE(GE), a former Dow component, recently spun off its transportation business into Wabtec(WAB), but the struggling company was removed from the Dow last June. United Technologies(UTX) plans to split in three next year. Even rarer, in this case, the child will join the Dow,… Read More »
Lets close the week with some Odds & Ends. In this week’s edition, we provide some updates on recent and upcoming spinoffs. We also give thanks to a reader for pointing out something we missed – keep it up! Thanks to reader AH for pointing out that we missed Naspers (NPSNY) spinoff of its Pay-TV business, MultiChoice Group… Read More »
Wabtec(WAB) was excited to announce this that it had completed its merger with GE Transportation, immediately following GE Transportation’s spinoff from GE(GE). GE shareholders will see small amounts of Wabtec in their portfolios. The final ratio is a bit lower than what had been estimated. For each share of GE stock owned, shareholders received 0.005371 shares of Wabtec stock,… Read More »