General Electric Co. (GE) is in talks to sell its century-old locomotive business to rail-equipment maker Wabtec Corp., Bloomberg reported citing people familiar with the matter.
The report indicated that GE is considering combining its rail division 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.
A deal hasn’t been reached and talks may still fall apart. GE may also choose to pursue an initial public offering or other strategic option for the business, the reports said.
by RTTNews Staff Writer
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