Bloomberg News
April 20, 2018, 1:40 PM EDT
General Electric Co., the beleaguered manufacturer undergoing a strategic review, is in talks to sell its century-old locomotive business to rail equipment maker Wabtec Corp., according to people familiar with the matter, Bloomberg News' Ed Hammond, Aaron Kirchfeld and Richard Clough report.
GE is considering combining its rail business with Wabtec, which has a market valuation of $8 billion, said the people, who asked not to be identified because talks are private. The transportation unit could be worth as much as $6.8 billion in a sale, Julian Mitchell, an analyst at Barclays Plc, wrote in a note to clients on April 17.
https://www.bloomberg.com/news/articles/2018-04-20/ge-is-in-talks-to-unload-rail-business-in-deal-with-wabtec