Wabtec (WAB) Takes Majority Stake in Faiveley Transport; FY16 Outlook Updated, FY17 Guidance Announced
- Wall Street ends higher, investors juggle Fed nerves with AI enthusiasm
- Apple in talks with Google to use generative AI in iPhones- Bloomberg
- World shares cheer China data, as central banks line up
- Oil prices climb 2% to 4-month high on lower Iraq, Saudi exports
- Meta Platforms is a new Top Pick at Mizuho, analyst sees upside to consensus
- After-hours movers: ANSYS, National CineMedia, and more
- Midday movers: Google, Pepsi rise; Boeing, Zillow fall
- Midday movers: Adobe, Zillow fall; Micron rises
- After-hours movers: Adobe Systems slumps; Rivian, Ulta Beauty gain
- Midday movers: Tesla, Nvidia fall premarket; Robinhood, Dollar General rise
Wabtec Acquires Majority Ownership Of Faiveley Transport; Updates 2016 Guidance, Provides 2017 Preliminary Information
December 1, 2016 12:01 AM ESTWILMERDING, Pa., Dec. 01, 2016 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE: WAB) has acquired majority ownership of Faiveley Transport S.A. (Euronext Paris: LEY), after completing the purchase of the Faiveley familys stake, which represented about 51% of the companys shares outstanding. Wabtec plans to launch a tender offer for the remaining public shares in December.
Faiveley Transport is a leading global provider of value-added, integrated systems and services for the railway industry with annual sales of about $1.2 billion.Â
Albert J. Neupaver, executive chairman of Wabtec, said: The acquisition of... More