Your broker will ask for some basic information about your account, including: Your account number (obtain from your statement or online account), The number of shares you wish to transfer, Whether you hold your shares in DRS (book-entry) or certificate form. 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 acquisition by Wabtec of GE Transportation (the transaction) and statements regarding Wabtecs expectations about future sales and earnings. The combined company has a multi-year backlog of more than $23 billion. Specifically, GE Transportation will be first distributed to GE shareholders in a "tax-free spin- or split-off; then immediately merged with Wabtec," according to the deal presentation.. Wabtec will now have 50.8%, up 0.9%. It is based in Wilmerding, Pennsylvania. If you hold shares in DRS Book-Entry (no certificate), please follow the steps below: How do I transfer registered shares to beneficial or street shares via my broker? GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. For GE shareholders who received shares of Wabtec stock as part of the Wabtec- GET Merger, the cost basis in the Wabtec stock received is $78.06 per share, which was the closing price per share on February 25, 2019. Making the world smarter, happier, and richer. By embracing diverse teams and perspectives, we are better equipped to build a world that works. When will I have to pay taxes on the stocks. https://www.sec.gov/Archives/edgar/data/943452/000114036119001550/s002443x10_s4a.htm, https://www.quicken.com/support/how-do-i-record-corporate-spin-new-securities, https://www.sec.gov/Archives/edgar/data/40545/000119312518172907/d591170d8k.htm, https://globenewswire.com/news-release/2019/01/25/1705540/0/en/Wabtec-and-GE-Modify-Terms-of-Transaction-Expect-to-Close-By-End-of-February-2019.html, Div from GE @ $0.397239/GE share (0.005371 * 73.96), Buy (0.005371 * GE Share Quantity) shares of Wabtec for that whole dividend amount. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted. Caution Concerning Forward-Looking Statements Also, an audio replay of the call will be available by calling 412-317-0088 (passcode: 466#). Wabtec (WAB) Signs Revised Deal With GE, Gets Majority Stake Is Wabtec Exposed To GE's Pension Woes? - SeekingAlpha How should shares for transfer be mailed to Broadridge? 40.2% of the combined entity will go to GE shareholders and 9.9% retained by GE. WAB scores best on the Quality dimension, with a Quality rank ahead of 85.16% of US stocks. Notice to holders of General Electric Company Series D preferred stock. Discover how our people & technology are solving global issues, improving lives, and changing industries. Wabtec is currently in the S&P Midcap 400 index, but its current pre-merger market cap is already above many S&P 500 constituents. Your corporation you own stock in may also support a stock sale plan. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the transaction; (2) uncertainty of the expected financial performance of the combined company following completion of the transaction; (3) failure to realize the anticipated benefits of the transaction, including as a result of integrating GE Transportation into Wabtec; (4) the ability of the combined company to implement its business strategy; (5) difficulties and delays in achieving revenue and cost synergies of the combined company; (6) inability to retain and hire key personnel; (7) the risk that shareholder litigation in connection with the transaction or other settlements or investigations may result in significant costs of defense, indemnification and liability; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions, including the impacts of tax and tariff programs, industry consolidation, and changes in the financial condition or operating strategies of our customers; (10) changes in the expected timing of projects; (11) a decrease in freight or passenger rail traffic; (12) an increase in manufacturing costs; (13) actions by third parties, including government agencies; and (14) other risk factors as detailed from time to time in Wabtecs reports filed with the SEC, including Wabtecs annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. Ithas also expanded heavily into software and thelucrative business of locomotive upgrades. I am using Quicken 2017 which I assume has not changed on that transaction from Quicken 2019. All told, if GE can maintain its full-year 2018 cash flow guidance and FCF can improve markedly in 2019, then the Wabtec deal will turn out to have been a smart move. 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. The deal to merge GE transportation withWestinghouse Air Brake Technologies(WAB -0.07%), or Wabtec, is somewhat complicated but, in general, can be seen as a near-term positive for shareholders. A culture of integrity, compliance, safety, and respect for human rights, while reducing our environmental footprint. What do GE shareholders get for Wabtec? Specifically, GE modified the terms of its merger agreement with Wabtec Corporation ( WAB -0.23%) in order to raise more cash for the company, but it also reduced the amount of Wabtec GE. This enhanced capability is expected to drive significant productivity for customers by delivering improved cycle time, lower production costs and better asset performance. Example: Mary Smith is preferred instead of M Smith. DSPPs offer investors the opportunity to buy shares directly from the corporation, via the transfer agent, often without involving a broker. GE Reverse Stock Split Frequently Asked Questions. Access important shareholder information. Sign up for our newsletter and stay up to date with whats happening in Investor news. Learn more about our culture, businesses, and life at GE. To sell shares that are held in a plan, please refer to the FAQ section on "Stock and Dividend Plans. What are analysts forecasts for Wabtec stock? Notification via fax to: (215) 553-5402; attention Lost Securities Dept. GE shares rose 2.8 percent to $15.39. Based on the number of shares of GE and Wabtec common stock outstanding on Dec. 31, GE shareholders are also expected to get about 0.005403 of a share of Wabtec common stock for each share of GE . I agree the in-product help is in error for the taxable spinoff. You should receive your 1099 by mid-February. 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. In other words, in future years, earnings should rebound strongly -- and, all things being equal, the EV/EBITDA multiple will decline. However, it will do little to appease dyed-in-the-wool bears worried about the sustainability of the company's dividend and restructuring prospects. Due to low participation, GE ended the Stock Redemption program on November 10, 2016 for GE Stock Direct Investors. If you do not have this information, you should call our Lost Securities Department at the 800 number on this site. Broadridge can support the sale of your shares if they are held in DRS (no certificates) as part of a Dividend Reinvest Plan (DRIP), Employee Stock Purchase Plan (ESPP) or Direct Stock Purchase Plan (DSPP). However, GE is pre-funding its pension plan to the tune of $6 billion in 2018 by borrowing the same amount. Wabtec reported a strong Q1, also forecasting robust growth for the year with record backlog. Following the completion of the transaction, Stphane Rambaud-Measson will become president and CEO of Wabtecs Transit Segment; and Rafael Santana, president and CEO of GE Transportation, will become president and CEO of Wabtecs Freight Segment. Our energy expertise spans from renewable wind energy to emission-reducing natural gas, as well as physical and digital solutions to modernize the grid connecting it all. Registering shares in the name of a Trust requires that specific information be provided: the name of the trust and/or the maker or beneficiary and the date of the trust instrument. Discover how our people & technology are solving global issues, improving lives, and changing industries. Any forward-looking statements speak only as of the date of this communication. If you wish to move your shares from registered to beneficial ownership, Broadridge or your broker will help you do so. 412.825.1543, Matt Cribbins, GEmatthewg [dot] cribbins [at] ge [dot] com Today, we meet the total lifecycle needs of the entire fleet, from new locomotives to modernizations, service, and repairs, adding value at every touchpoint to help customers realize the most value from their investment. 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. Small shareholders will likely receive just cash in lieu of fractional shares and the odd exchange ratio could create orphaned positions and a period of forced selling. GE shareholders own about 24.3 percent of Wabtec on a fully diluted basis. Since GE Transportation is only expected to start to rebound from a cyclical low in 2018, even the EV/EBITDA multiple for 2019 is still likely to reflect cyclicallylow earnings. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. All comments, concerns and complaints can be addressed via phone or e-mail to: To view GE Form 8937 attachment, click here, GE HealthCare Distribution Ratio Frequently Asked Questions, https://www.ge.com/news/press-releases/ge-announces-board-of-directors-for-future-independent-ge-healthcare-confirms-target. $1.1 billion of net tax benefit will accrue to the combined company. In the transaction, GE received about $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec non-voting convertible preferred stock that, together, represent an approximately 24.9% ownership interest in Wabtec. GE's dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. Transfer shares to your broker via the transfer process (see FAQ "Ownership Questions"). Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Explore a career with us. Registered shareholders receive dividends, proxies and other communications directly from the corporation via the transfer agent or the corporation directly. Meanwhile, the structure of the deal is a nice way to return capital to GE shareholders. GE will receive a $2.9 billion up-front cash payment, and GE and its shareholders will receive a 50.1% ownership interest in the combined company. Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. GE Transportation This merger establishes Wabtec as a Fortune 500, global transportation and logistics leader by combining Wabtecs broad range of freight, transit and electronics products with GE Transportations best-in-class equipment, services and digital solutions in the locomotive, mining, marine, stationary power and drilling industries. Wabtec is a global provider of equipment and systems services for transit and freight rail. Wabtec and GE Transportation to Merge, Creating - Wabtec Corporation That's the number of WABTEC shares you received. Today, we are a stronger, more diversified company ready to better serve customers across the globe and capitalize on new growth opportunities at an attractive point in the cycle.. 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.