Davis Polk Advises GE on the Merger of GE Transportation and Wabtec
5/21/2018

Davis Polk is advising General Electric Company on the $11.1 billion merger of GE Transportation and Wabtec Corporation. Under the agreement GE will receive $2.9 billion in cash at closing and GE and its shareholders will receive a 50.1% ownership interest in the combined company, with Wabtec shareholders retaining 49.9% of the combined company. The transaction, which is expected to close in early 2019, is subject to customary closing conditions, including approval by Wabtec shareholders and regulatory approvals.

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. GE transforms industry with software-defined machines and solutions that are connected, responsive and predictive. Wabtec is a leading global provider of equipment, systems and value-added services for transit and freight rail.

The Davis Polk corporate team includes partners William L. Taylor and Lee Hochbaum and associate Darren M. Schweiger. Partners Neil Barr and William A. Curran are providing tax advice. Partner Jeffrey P. Crandall is providing executive compensation advice. Partners Michael Kaplan and John B. Meade are providing capital markets advice. Partner Sartaj Gill is providing credit advice. Partner Pritesh P. Shah is providing intellectual property and technology advice. All members of the Davis Polk team are based in the New York office.