Wabtec gave GE a $2.9 billion cash payment up front. GE’s transportation business manufactures passenger and freight trains, mining equipment and marine diesel engines. It is GE’s second-smallest unit in sales and posted an 11 percent revenue decline in 2017.
GE’s share price is down 14 percent in 2018, but news of the transportation merger earned the company a 2 percent stock bump in pre-market trading before May 21.
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